Florida Mortgage Education
EasyRealEstateSchool.com offers these Florida mortgage education courses in conjunction with MortgageEducation.com. All the mortgage education courses are NMLS-approved and will satisfy all the required education hours for your state. Should you have any questions please feel free to contact MortgageEducation.com.
Who is required to have this license?
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 non-institutional investor for compensation or gain. The term includes the activities of a loan originator as defined by the federal S.A.F.E. Act.
Who does not need this license?
- Any person operating exclusively as a registered loan originator in accordance with the S.A.F.E. Mortgage Licensing Act of 2008.
- A depository institution; subsidiaries that are owned and controlled by a depository institution and regulated by the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the National Credit Union Administration, or the Federal Deposit Insurance Corporation; or institutions regulated by the Farm Credit Administration.
- The Federal National Mortgage Association; the Federal Home Loan Mortgage Corporation; any agency of the Federal Government; any state, county, or municipal government; or any quasigovernmental agency that acts in such capacity under the specific authority of the laws of any state or the United States.
- An attorney licensed in this state who negotiates the terms of a mortgage loan on behalf of a client as an ancillary matter to the attorney’s representation of the client.
- A person involved solely in the extension of credit relating to the purchase of a timeshare plan, as that term is defined in 11 U.S.C. s. 101(53D).
Who does not need this license?
Refer to the Florida Loan Originator New Application Checklist document located on the NMLS
Resource Center website Mortgage Loan Originator new application checklist
For more information about the actual course please visit Mortgage Education Course FAQ’s.
Florida State Requirments
SAFE ACT Requirements
- SAFE MLO Test – All new applicants on or after 10/1/2010 must pass the National and State Components of the SAFE MLO Test.
- Criminal Background Check – All new applicants on or after 10/1/2010 must submit fingerprints through NMLS for a national criminal background check. All new applicants on or after 10/1/2010 must also submit fingerprints to the state for a state criminal background check.
- Credit Report – All new applicants on or after 10/1/2010 will be required to authorize a credit report through NMLS.
Florida Mortgage Education Requirements
- SAFE Act Pre-License (required courses – SAFE CORE 8 hours) – All new applicants on or after 10/1/2010 must have completed 20 hours of NMLS approved pre-licensure education. State approved courses will no longer be accepted after 10/1/2010.
- SAFE Act Continuing Education (required courses – SAFE CORE 7 Hours) – All licensees must take 8 hours of NMLS approved continuing education in 2011 in order to renew for 2012. This course should be taken Yearly by 12/31.
- Certification (Education) – Currently licensed MLOs who have completed at least 20 hours of FL State approved education on or before 10/1/2010 may be eligible to participate in the PE certification process and may not need to take the NMLS approved pre-licensure education. Refer to your state agency for more information.
- Certification (Test) – Currently licensed MLOs who have passed the FL mortgage test on or after 1/1/2004 may be eligible to participate in the testing certification process and may not need to take the FL Component of the SAFE MLO Test. Refer to your state agency for more information.
For more information about the actual course please visit Mortgage Education Course FAQ’s.