Loan Originator

This license is required for an individual who, directly or indirectly, solicits or offers to solicit a mortgage loan, accepts or offers to accept an application for a mortgage loan, negotiates or offers to negotiate the terms or conditions of a new or existing mortgage loan on behalf of a borrower or lender, processes a mortgage loan application, or negotiates or offers to negotiate the sale of an existing mortgage loan to a noninstitutional investor for compensation or gain. The term includes the activities of a loan originator as defined by the federal S.A.F.E. Act.

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.