reglab/housing_qa huggingface dataset:
FL Stat § 494.0015 (2021)
2021 Florida Statutes|Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations|Chapter 494 - Loan Originators and Mortgage Brokers|Part I - General Provisions (Ss. 494.001-494.00296)|494.0015 - Evidence; examiner’s worksheets, investigative reports, other related documents.

494.0015 Evidence; examiner’s worksheets, investigative reports, other related documents.—In any hearing in which the financial examiner acting under authority of this chapter is available for cross-examination, any official written report, worksheet, or other related paper, or a duly certified copy thereof, compiled, prepared, drafted, or otherwise made by the financial examiner, after being duly authenticated by the examiner, may be admitted as competent evidence upon the oath of the examiner that the report, worksheet, or related paper was prepared as a result of an examination of the books and records of a licensee or other person conducted pursuant to the authority of this chapter.History.—ss. 6, 50, ch. 91-245; s. 4, ch. 91-429.
FL Stat § 494.0016 (2021)
2021 Florida Statutes|Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations|Chapter 494 - Loan Originators and Mortgage Brokers|Part I - General Provisions (Ss. 494.001-494.00296)|494.0016 - Books, accounts, and records; maintenance; examinations by the office.

494.0016 Books, accounts, and records; maintenance; examinations by the office.—(1) Each licensee shall maintain, at the principal place of business designated on the license, all books, accounts, records, and documents necessary to determine the licensee’s compliance with this chapter.(2) The office may authorize maintenance of records at a location other than a principal place of business. The office may require books, accounts, and records to be produced and available at a reasonable and convenient location in this state.(3) All books, accounts, records, documents, and receipts for expenses paid by the licensee on behalf of the borrower, including each closing statement signed by a borrower, shall be preserved and kept available for examination by the office for at least 3 years after the date of original entry.(4) The commission may prescribe by rule the minimum information to be shown in the books, accounts, records, and documents of licensees so that such records will enable the office to determine the licensee’s compliance with this chapter. In addition, the commission may prescribe by rule requirements for the destruction of books, accounts, records, and documents retained by the licensee after completion of the time period specified in subsection (3).History.—ss. 7, 50, ch. 91-245; s. 4, ch. 91-429; s. 5, ch. 99-213; s. 519, ch. 2003-261; s. 3, ch. 2006-213.
FL Stat § 494.00165 (2021)
2021 Florida Statutes|Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations|Chapter 494 - Loan Originators and Mortgage Brokers|Part I - General Provisions (Ss. 494.001-494.00296)|494.00165 - Prohibited advertising; record requirements.

494.00165 Prohibited advertising; record requirements.—(1) It is a violation of this chapter for any person to:(a) Advertise that an applicant shall have unqualified access to credit without disclosing the material limitations on the availability of such credit. Material limitations include, but are not limited to, the percentage of down payment required, that a higher rate or points could be required, or that restrictions on the maximum principal amount of the loan offered could apply.(b) Advertise a mortgage loan at an expressed interest rate unless the advertisement specifically states that the expressed rate could change or not be available at commitment or closing.(c) Advertise mortgage loans, including rates, margins, discounts, points, fees, commissions, or other material information, including material limitations on such loans, unless the person is able to make such mortgage loans available to a reasonable number of qualified applicants.(d) Falsely advertise or misuse names indicating a federal agency pursuant to 18 U.S.C. s. 709.(e) Engage in unfair, deceptive, or misleading advertising regarding mortgage loans, brokering services, or lending services.(2) Each person required to be licensed under this chapter must maintain a record of samples of each of its advertisements, including commercial scripts of each radio or television broadcast, for examination by the office for 2 years after the date of publication or broadcast.History.—s. 6, ch. 99-213; s. 520, ch. 2003-261; s. 7, ch. 2009-241.
FL Stat § 494.00173 (2021)
2021 Florida Statutes|Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations|Chapter 494 - Loan Originators and Mortgage Brokers|Part I - General Provisions (Ss. 494.001-494.00296)|494.00173 - Mortgage Guaranty Trust Fund; creation.

494.00173 Mortgage Guaranty Trust Fund; creation.—(1) The Mortgage Guaranty Trust Fund is created within, and shall be administered by, the Office of Financial Regulation.(2) Funds to be credited to the trust fund shall consist of the fee imposed pursuant to s. 494.00172 on loan originators, mortgage brokers, and mortgage lenders licensed under this chapter. Moneys in the trust fund shall be used to pay claims against loan originators, mortgage brokers, and mortgage lenders pursuant to s. 494.00172.(3) Notwithstanding s. 216.301 and pursuant to s. 216.351, any balance in the trust fund at the end of any fiscal year shall remain in the trust fund at the end of the year and shall be available for carrying out the purposes of the trust fund.History.—s. 1, ch. 2010-135; s. 2, ch. 2013-11.
FL Stat § 494.0018 (2021)
2021 Florida Statutes|Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations|Chapter 494 - Loan Originators and Mortgage Brokers|Part I - General Provisions (Ss. 494.001-494.00296)|494.0018 - Penalties.

494.0018 Penalties.—(1) Whoever knowingly violates any provision of s. 494.00255(1)(a), (b), or (c) or s. 494.0025(1), (2), (3), (4), or (5), except as provided in subsection (2) of this section, commits a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084. Each such violation constitutes a separate offense.(2) Any person who violates any provision of this chapter, in which the total value of money and property unlawfully obtained exceeds $50,000 and there are five or more victims, commits a felony of the first degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084.History.—ss. 9, 50, ch. 91-245; s. 4, ch. 91-429; s. 10, ch. 2009-241; s. 4, ch. 2018-61.
FL Stat § 494.0019 (2021)
2021 Florida Statutes|Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations|Chapter 494 - Loan Originators and Mortgage Brokers|Part I - General Provisions (Ss. 494.001-494.00296)|494.0019 - Liability in case of unlawful transaction.

494.0019 Liability in case of unlawful transaction.—(1) If a mortgage loan transaction is made in violation of any provision of this chapter, the person making the transaction and every licensee, director, or officer who participated in making the transaction are jointly and severally liable to every party to the transaction in an action for damages incurred by the party or parties.(2) A person is not liable under this section upon a showing that such person’s licensees, officers, and directors who participated in making the mortgage loan transaction, if any, acted in good faith and without knowledge and, with the exercise of due diligence, could not have known of the act committed in violation of this chapter.History.—ss. 10, 50, ch. 91-245; s. 4, ch. 91-429; s. 210, ch. 92-303; s. 11, ch. 2009-241.
FL Stat § 494.002 (2021)
2021 Florida Statutes|Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations|Chapter 494 - Loan Originators and Mortgage Brokers|Part I - General Provisions (Ss. 494.001-494.00296)|494.002 - Statutory or common-law remedies.

494.002 Statutory or common-law remedies.—This chapter does not limit any statutory or common-law right of any person to bring any action in any court for any act involved in the mortgage loan business or the right of the state to punish any person for any violation of any law.History.—ss. 11, 50, ch. 91-245; s. 4, ch. 91-429; s. 12, ch. 2009-241.
FL Stat § 494.0022 (2021)
2021 Florida Statutes|Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations|Chapter 494 - Loan Originators and Mortgage Brokers|Part I - General Provisions (Ss. 494.001-494.00296)|494.0022 - Applicability of act.

494.0022 Applicability of act.—Failure to comply with the provisions of this chapter does not affect the validity or enforceability of any mortgage loan; and no person acquiring a mortgage loan, as mortgagee or assignee, is required to ascertain whether or not the provisions of this chapter have been complied with.History.—ss. 13, 50, ch. 91-245; s. 4, ch. 91-429.
FL Stat § 494.0023 (2021)
2021 Florida Statutes|Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations|Chapter 494 - Loan Originators and Mortgage Brokers|Part I - General Provisions (Ss. 494.001-494.00296)|494.0023 - Conflicting interest.

494.0023 Conflicting interest.—(1) If, in a mortgage transaction, a licensee has a conflicting interest as specified in subsection (2), the licensee shall, at a minimum, provide the following disclosures to the borrower in writing:(a) The nature of the relationship, ownership, or financial interest between the provider of products or services, or business incident thereto, and the licensee making the referral;(b) An estimated charge or range of charges generally made by such a provider;(c) That a financial benefit may be received by the licensee as a result of the conflicting interest; and(d) That alternative sources may be chosen by the borrower to provide the required products or services.(2) A licensee has a conflicting interest if:(a) The licensee or the licensee’s relative provides the borrower with additional products or services;(b) The licensee or licensee’s relative, directly or indirectly, owns, controls, or holds with power to vote, or holds proxies representing, 1 percent or more of any class of equity securities or other beneficial interest in the person providing the additional products or services;(c) The person providing the additional products or services, directly or indirectly, owns, controls, or holds the power to vote, or holds proxies representing, 1 percent or more of any class of equity securities or other beneficial interest in the licensee;(d) A holding company, directly or indirectly, owns, controls, or holds with power to vote, or holds proxies representing, 1 percent or more of any class of equity securities or other beneficial interest in both the licensee and the person providing the additional products or services;(e) One or more persons, or such person’s relative, sits as an officer or director, or performs similar functions as an officer or director, for both the licensee and the person providing the additional products or services; or(f) The licensee or the licensee’s relative sits as an officer or director, or performs similar functions as an officer or director, of the person providing the additional products or services.(3) The commission may adopt rules to administer the disclosure requirements of this section. The rules must consider the disclosure requirements of the federal Real Estate Settlement Procedures Act, 12 U.S.C. ss. 2601 et seq.; the federal Truth in Lending Act, 15 U.S.C. ss. 1601 et seq.; and related federal regulations.History.—ss. 14, 50, ch. 91-245; s. 4, ch. 91-429; s. 13, ch. 2009-241.
FL Stat § 494.0024 (2021)
2021 Florida Statutes|Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations|Chapter 494 - Loan Originators and Mortgage Brokers|Part I - General Provisions (Ss. 494.001-494.00296)|494.0024 - Waiver.

494.0024 Waiver.—Unless otherwise indicated, any waiver of this chapter is unenforceable and void.History.—ss. 15, 50, ch. 91-245; s. 4, ch. 91-429.
FL Stat § 494.0025 (2021)
2021 Florida Statutes|Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations|Chapter 494 - Loan Originators and Mortgage Brokers|Part I - General Provisions (Ss. 494.001-494.00296)|494.0025 - Prohibited practices.

494.0025 Prohibited practices.—It is unlawful for any person:(1) To act as a loan originator in this state without a current, active license issued by the office pursuant to part II of this chapter.(2) To act as a mortgage broker in this state without a current, active license issued by the office pursuant to part II of this chapter.(3) To act as a mortgage lender in this state without a current, active license issued by the office pursuant to part III of this chapter.(4) In any practice or transaction or course of business relating to the sale, purchase, negotiation, promotion, advertisement, or hypothecation of mortgage loan transactions, directly or indirectly:(a) To knowingly or willingly employ any device, scheme, or artifice to defraud;(b) To engage in any transaction, practice, or course of business which operates as a fraud upon any person in connection with the purchase or sale of any mortgage loan;(c) To obtain property by fraud, willful misrepresentation of a future act, or false promise; or(d) To misrepresent a residential mortgage loan, as described in s. 494.001(25)(a), as a business purpose loan.(5) In any matter within the jurisdiction of the office, to knowingly and willfully falsify, conceal, or cover up by a trick, scheme, or device a material fact, make any false or fraudulent statement or representation, or make or use any false writing or document, knowing the same to contain any false or fraudulent statement or entry.(6) To violate s. 655.922(2), subject to this chapter.(7) To pay a fee or commission in any mortgage loan transaction to any person or entity other than a licensed mortgage broker or mortgage lender, or a person exempt from licensure under this chapter.(8) To record a mortgage broker agreement or any other document, not rendered by a court of competent jurisdiction, which purports to enforce the terms of the agreement.(9) To use the name or logo of a financial institution, as defined in s. 655.005(1), or its affiliates or subsidiaries when marketing or soliciting existing or prospective customers if such marketing materials are used without the written consent of the financial institution and in a manner that would lead a reasonable person to believe that the material or solicitation originated from, was endorsed by, or is related to or the responsibility of the financial institution or its affiliates or subsidiaries.(10) Subject to investigation or examination under this chapter, to knowingly alter, withhold, conceal, or destroy any books, records, computer records, or other information relating to a person’s activities which subject the person to the jurisdiction of this chapter.History.—ss. 16, 50, ch. 91-245; s. 4, ch. 91-429; s. 4, ch. 95-313; s. 7, ch. 99-213; s. 523, ch. 2003-261; s. 1, ch. 2004-340; s. 84, ch. 2004-390; s. 14, ch. 2009-241; s. 3, ch. 2018-61.
FL Stat § 494.0026 (2021)
2021 Florida Statutes|Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations|Chapter 494 - Loan Originators and Mortgage Brokers|Part I - General Provisions (Ss. 494.001-494.00296)|494.0026 - Disposition of insurance proceeds.

494.0026 Disposition of insurance proceeds.—The following provisions apply to mortgage loans held by a mortgagee or assignee that is subject to part II or part III of this chapter.(1) The mortgagee or assignee must promptly endorse a check, draft, or other negotiable instrument payable jointly to the mortgagee or assignee and the insured by the insurance company. However, the mortgagee or assignee is not required to endorse such instrument if the insured or a payee who is not subject to part II or part III of this chapter refuses to endorse the instrument.(2) Insurance proceeds received by a mortgagee or assignee that relate to compensation for damage to property or contents insurance coverage in which the mortgagee or assignee has a security interest must be promptly deposited into a segregated account of a federally insured financial institution.(3) Insurance proceeds received by a mortgagee or assignee that relate to contents insurance coverage in which the mortgagee or assignee does not have a security interest in the contents must be promptly distributed to the insured.(4) Insurance proceeds received by a mortgagee or assignee that relate to additional living expenses must be promptly distributed to the insured.(5) The mortgagee or assignee is not required to remit the portion of the proceeds relating to additional living expenses and contents insurance if the mortgagee or assignee is not able to determine which part of the proceeds relates to additional living expenses and contents insurance.This section may not be construed to prevent an insurance company from paying the insured directly for additional living expenses or paying the insured directly for contents insurance coverage if the mortgagee or assignee does not have a security interest in the contents.History.—s. 5, ch. 95-313; s. 16, ch. 2009-241.
FL Stat § 494.00322 (2021)
2021 Florida Statutes|Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations|Chapter 494 - Loan Originators and Mortgage Brokers|Part II - Mortgage Brokers (Ss. 494.00312-494.0043)|494.00322 - Mortgage broker license renewal.

494.00322 Mortgage broker license renewal.—(1) In order to renew a mortgage broker license, a mortgage broker must:(a) Submit a completed license renewal form as prescribed by commission rule.(b) Submit a nonrefundable renewal fee of $375, the $100 nonrefundable fee if required by s. 494.00172, and nonrefundable fees to cover the cost of further fingerprint processing and retention as set forth in commission rule.(c) Submit fingerprints in accordance with s. 494.00321(2)(d) for any new control persons who have not been screened.(d) Authorize the registry to obtain an independent credit report on each of the licensee’s control persons from a consumer reporting agency, and transmit or provide access to the report to the office. The cost of the credit report shall be borne by the licensee.(e) Submit any additional information or documentation requested by the office and required by rule concerning the licensee or a control person of the licensee. Additional information may include documentation of pending and prior disciplinary and criminal history events, including arrest reports and certified copies of charging documents, plea agreements, judgments and sentencing documents, documents relating to pretrial intervention, orders terminating probation or supervised release, final administrative agency orders, or other comparable documents that may provide the office with the appropriate information to determine eligibility for renewal of licensure.(2) The office may not renew a mortgage broker license unless the licensee continues to meet the minimum requirements for initial licensure pursuant to s. 494.00321 and adopted rule.(3) If a licensed mortgage broker fails to meet the requirements of this section for annual license renewal on or before December 31 but meets such requirements before March 1, the mortgage broker’s license status shall be changed to “failed to renew” pending review and renewal by the office. A nonrefundable reinstatement fee of $250 shall be charged in addition to registry fees. The license status shall not be changed until the requirements of this section are met and all fees are paid. If the licensee fails to meet the requirements of this section and pay all required fees before March 1, such license is expired and such mortgage broker must apply for a new mortgage broker license under s. 494.00321.History.—s. 28, ch. 2009-241; s. 40, ch. 2014-91.
FL Stat § 494.00331 (2021)
2021 Florida Statutes|Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations|Chapter 494 - Loan Originators and Mortgage Brokers|Part II - Mortgage Brokers (Ss. 494.00312-494.0043)|494.00331 - Loan originator and loan processor employment.

494.00331 Loan originator and loan processor employment.—(1) LOAN ORIGINATORS.—An individual may not act as a loan originator unless he or she is an employee of, or an independent contractor for, a mortgage broker or a mortgage lender, and may not be employed by or contract with more than one mortgage broker or mortgage lender, or either simultaneously.(2) CONTRACT LOAN PROCESSORS.—Subsection (1) does not apply to a contract loan processor who has a declaration of intent to act solely as a contract loan processor on file with the office. The declaration of intent must be on a form as prescribed by commission rule.(a) A loan originator may withdraw his or her declaration of intent. The withdrawal of declaration of intent must be on such form as prescribed by commission rule.(b) A declaration of intent or a withdrawal of declaration of intent is effective upon receipt by the office.(c) The fee earned by a contract loan processor may be paid to the company that employs the loan processor without violating the restriction in s. 494.0025(7) requiring fees or commissions to be paid to a licensed mortgage broker or mortgage lender or a person exempt from licensure under this chapter.(3) IN-HOUSE LOAN PROCESSORS.—An individual may not act as an in-house loan processor unless he or she is an employee of a mortgage broker or a mortgage lender and may not be employed by more than one mortgage broker or mortgage lender, or either, simultaneously. An in-house loan processor must work at the direction of and be subject to the supervision and instruction of a loan originator licensed under this part.History.—s. 11, ch. 95-313; s. 11, ch. 99-213; s. 30, ch. 2009-241; s. 2, ch. 2010-67; s. 39, ch. 2011-4; s. 5, ch. 2011-71.
FL Stat § 494.0035 (2021)
2021 Florida Statutes|Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations|Chapter 494 - Loan Originators and Mortgage Brokers|Part II - Mortgage Brokers (Ss. 494.00312-494.0043)|494.0035 - Principal loan originator and branch manager for mortgage broker.

494.0035 Principal loan originator and branch manager for mortgage broker.—(1) Each mortgage broker must be operated by a principal loan originator who shall have full charge, control, and supervision of the mortgage broker. The principal loan originator must have been licensed as a loan originator for at least 1 year before being designated as the principal loan originator, or must demonstrate to the satisfaction of the office that he or she has been actively engaged in a mortgage-related business for at least 1 year before being designated as a principal loan originator. Each mortgage broker must keep the office informed of the person designated as the principal loan originator as prescribed by commission rule. If the designation is inaccurate, the mortgage broker shall be deemed to be operated under the full charge, control, and supervision of each officer, director, or ultimate equitable owner of a 10-percent or greater interest in the mortgage broker, or any other person in a similar capacity. A loan originator may not be a principal loan originator for more than one mortgage broker at any given time.(2) Each branch office of a mortgage broker must be operated by a branch manager who shall have full charge, control, and supervision of the branch office. The designated branch manager must be a licensed loan originator pursuant to s. 494.00312. Each branch office must keep the office informed of the person designated as the branch manager as prescribed by commission rule, which includes documentation of the individual’s acceptance of such responsibility. If the designation is inaccurate, the branch office shall be deemed to be operated under the full charge, control, and supervision of each officer, director, or ultimate equitable owner of a 10-percent or greater interest in the mortgage broker, or any other person in a similar capacity.History.—ss. 22, 50, ch. 91-245; s. 4, ch. 91-429; s. 5, ch. 2001-228; s. 531, ch. 2003-261; s. 32, ch. 2009-241; s. 6, ch. 2011-71.