Does a company that facilitates short sale transactions for borrowers need to be licensed?

Answer: Effective January 1, 2010, the definition of “acting as a mortgage broker” will include negotiating the terms or conditions of an existing mortgage loan on behalf of a borrower. See Section 494.001(3), F.S. Since a company that facilitates short sale transactions for borrowers will be asking the lender to accept less than the amount owed, it will be affecting the terms or conditions of an existing mortgage loan. Accordingly, a company that facilitates short sale transactions needs to be licensed under Chapter 494, F.S.