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Florida Statutes 494.0036 - Mortgage broker branch office license

Florida Statutes > Chapter 494 > Part II > 494.0036


Current as of: 2012
   (1) Each branch office of a mortgage broker must be licensed under this section.
   (2) The office shall issue a mortgage broker branch office license to a mortgage broker licensee after the office determines that the licensee has submitted a completed application for a branch office in a form prescribed by commission rule and payment of an initial nonrefundable branch office license fee of $225 per branch office. Application fees may not be prorated for partial years of licensure. The branch office license shall be issued in the name of the mortgage broker that maintains the branch office. An application is considered received for purposes of s. 120.60 upon receipt of a completed application form as prescribed by commission rule, and the required fees.
   (3) A branch office license must be renewed annually at the time of renewing the mortgage broker license under s. 494.00322. A nonrefundable branch renewal fee of $225 per branch office must be submitted at the time of renewal.
Florida Statutes 494.0035 - Principal loan originator and branch manager for mortgage brokerPart II Table of ContentsFlorida Statutes 494.0038 - Loan origination and mortgage broker fees and disclosures

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Questions & Answers: Mortgage Loan Brokers

Our Mortgage Broker is charging 3% of the amount of the loan as origination fee. Is this the right percentage for the sate of Florida? What is the correct percentage to be charged...
In Florida the maximum allowed origination fee is 8% of the loan value, but that includes all fees and points. It sounds like the origination fee in this case is legal. You might c...
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