494.0034 Renewal of mortgage broker’s license. - Florida Statutes

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494.0034 Renewal of mortgage broker’s license.

   (1) The office shall renew a mortgage broker license upon receipt of the completed renewal form, certification of compliance with continuing education requirements of s. 494.00295, and payment of a nonrefundable renewal fee of $150.

   (2) The commission shall adopt rules establishing a procedure for the biennial renewal of mortgage broker’s licenses. The commission may prescribe the form of the renewal application and may require an update of information since the licensee’s last renewal.

   (3) A license that is not renewed by the end of the biennium prescribed by the commission shall revert from active to inactive status. An inactive license may be reactivated within 2 years after becoming inactive by filing a completed reactivation form with the office, payment of the renewal fee, and payment of a nonrefundable reactivation fee of $100. A license that is not renewed within 2 years after becoming inactive automatically expires.

History. ss. 21, 50, ch. 91-245; s. 4, ch. 91-429; s. 12, ch. 99-213; s. 4, ch. 2001-228; s. 530, ch. 2003-261; s. 31, ch. 2009-241.

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Note. A. Repealed October 1, 2010, by s. 31, ch. 2009-241.

B. Effective September 1, 2010, s. 70(3), ch. 2009-241, provides that “[a]ll mortgage broker licenses issued before October 1, 2010, pursuant to s. 494.0033 or s. 494.0034, Florida Statutes, expire on December 31, 2010. However, if a person holding an active mortgage broker license issued before October 1, 2010, applies for a loan originator license through the Nationwide Mortgage Licensing System and Registry between October 1, 2010, and December 31, 2010, the mortgage broker license does not expire until the Office of Financial Regulation approves or denies the loan originator license application. Notwithstanding s. 120.60, Florida Statutes, for mortgage broker applications submitted between July 1, 2009, and December 31, 2009, or loan originator applications submitted between October 1, 2010, and December 31, 2010, the office has 60 days to notify the applicant of any apparent errors or omissions in an application and to request any additional information that the office may require, and the office has 180 days to approve or deny a completed application. Application fees may not be prorated for partial years of licensure.”