Mortgage Loan Originator Licensing

Are there any programs for home study?

No. The Office of Financial Regulation mandates that Mortgage Brokers obtain their 24-hours of education in a classroom setting. At LARSON, we believe this is the best way to truly learn about the industry. Our goal is to make this course an enjoyable learning experience for you and we don’t believe you can get that same experience in a home study format. Please read about what makes LARSON Different.

What function does the Office of Financial Regulation perform with respect to the mortgage industry?

Mortgage Brokerage Businesses, Lenders and Brokers must apply to the Office and meet certain licensing standards before they may legally offer their services to the public. Monetary fines and civil sanctions can be levied if a person or company is discovered to be operating in Florida without being properly licensed or exempt. After obtaining a license, periodic examinations of the licensee's operations maybe performed to monitor operating standards to assure compliance with the provisions of the Mortgage Brokerage and Lending Act, Chapter 494 Florida Statutes.

What are the nonresident application requirements?

The Mortgage Broker application requirements of non-Florida residents are the same as for Florida residents. Click here for information on obtaining your license.

How do I get fingerprinted if I live out of state?

After you have submitted your application and received the fingerprint card from the Office of Financial Regulation, you must complete the fingerprint card at an authorized law enforcement agency. Your local Sheriff’s Office is an example of an authorized agency. Your completed fingerprint card, along with a copy of your application deficiency letter, must be mailed to the Office of Financial Regulation, 200 East Gaines St., Tallahassee, Florida 32399-0376.

What’s the difference between a ‘mortgage broker’ and ‘mortgage lender?’

A Mortgage Broker is a person who brings together two parties in a loan transaction, one party being the borrower of the loan and the other party being the lender of the loan.

A Mortgage Lender is a person who makes or services a loan. A Mortgage Lender also needs to provide documentation showing a net worth of at least $250,000 and a surety bond of $10,000 payable to the state of Florida. There are no net worth or surety bond requirements to become a Mortgage Broker.

Is it possible to hold more than one mortgage broker license in Florida?

No, a person is allowed to hold only one Mortgage Broker license in the state of Florida and the license may not be transferred or assigned to anyone else.

How can I contact the Office of Financial Regulation?

200 E. Gaines Street
Tallahassee, FL
32399-0376

Enforcement
Tel: 850.410.9805
Fax: 850.410.9914

Licensing
Tel: 850.410.9895
Fax: 850.410.9882

TDD for Hearing Impaired Consumers:
800.640.0886

Is continuing education required before my first renewal?

Yes. You must complete 14 hours of continuing education in order to renew your license. However, the requirement is waived if you completed your 24-hour licensing course within the 90 day period preceding the renewal date.

What are my continuing education requirements?

At the time of renewal, you will be required to certify that you have taken at least 14 hours of professional mortgage training from an accredited Mortgage Business School within the past two (2) years.

Do I submit my continuing education certificate to the Office of Financial Regulation?

No. You will be required to certify at the time of renewal that you have satisfied the continuing education requirement. You are responsible for maintaining copies of the certificates of completion for four years

My mortgage broker license is currently INACTIVE as I did not renew in August 2007. Is Continuing Education required before I can reactivate my inactive individual Mortgage Broker license for the period 2007-2009?

YES. You will need to obtain a reactivation form from the Office upon which you will be required to certify that you have satisfied the continuing education requirement. Completion of this process will only reactivate your license through August 31, 2009.