Mortgage Lenders and Branches

MLD: Mortgage Lender

This license is required for an entity making a mortgage loan for compensation or gain, directly or indirectly, or selling or offering to sell a mortgage loan to a noninstitutional investor.

Making a mortgage loan means closing a mortgage loan in a person's name, advancing funds, offering to advance funds, or making a commitment to advance funds to an applicant for a mortgage loan.

Mortgage Lender Servicer

This licensing endorsement is required for any mortgage lender licensee who services a mortgage loan.

"Servicing a mortgage loan" means to receive, cause to be received, or transferred for another, installment payments of principal, interest, or other payments pursuant to a mortgage loan.

A "servicing endorsement" means authorizing a mortgage lender to service a loan for more than 4 months.

MLDB: Mortgage Lender Branch

This license is required for mortgage lender licensees who conduct business at locations other than their principal place of business:

(a) The address of which appears on business cards, stationery, or advertising used by the licensee in connection with business conducted under this chapter;

(b) At which the licensee's name, advertising or promotional materials, or signage suggests that mortgage loans are originated, negotiated, or funded;

(c) At which mortgage loans are originated, negotiated, or funded by a licensee.

Mortgage Lender Servicer Branch

This license is required for mortgage lender servicer licensees who conduct business at locations other than their principal place of business:

(a) The address of which appears on business cards, stationery, or advertising used by the licensee in connection with business conducted under this chapter;

(b) At which the licensee's name, advertising or promotional materials, or signage suggests that mortgage loans are serviced; or

(c) At which mortgage loans are serviced by a licensee.

Recent national legislation has changed how mortgage professionals apply for licensure with the Division of Finance. On July 30, 2008, President Bush signed the Housing & Economic Recovery Act into law which includes the Secure and Fair Enforcement (SAFE) Mortgage Licensing Act. The SAFE Act mandates all states to use the Nationwide Mortgage Licensing System (NMLS). All mortgage license applications, amendments and renewal filings must now be filed through NMLS.

NMLS provides standardized license applications and reporting requirements nationwide, helps state regulators share and track information and helps protect consumers against fraud. Florida joined NMLS on October 1, 2010.