Click here for State of Florida Background Check Information and Forms

License Renewal Deadline: By August 31, Biannual (license renewed every 24 months)

Covered Licensees:
A. Mortgage Lenders
B. Correspondent Mortgage Lenders
C. Mortgage Brokerage Businesses
D. Mortgage Brokers

Domicile Requirements:
Effective October 1, 1999, an in-state office is not required to become licensed, but each location from which any business will be conducted must be licensed.

Financial Regulations:
A. Mortgage Lenders must maintain a net worth of at least $250,000.00 plus a surety bond for at least $10,000.00.
B. Correspondent Mortgage Lenders must maintain a net worth of at least $25,000.00 plus a surety bond for $10,000.00.
C. Mortgage Brokerage Businesses and Mortgage Brokers have no specific financial regulation.

Licensing Requirements:
A. Mortgage Broker Applicants must complete a 24 hour state approved course in the classroom and pass a written examination demonstrating their competency in mortgage transactions and knowledge of statute rules and regulations.
B. Licensed Mortgage Brokers must initially complete 24 hours of classroom training. If your license was approved on September 1, 2001 or thereafter, the 24 hour course you completed in order to receive your license will satisfy the continuing education requirement for your first renewal only.
C. The Principal Broker of a Mortgage Brokerage Business must demonstrate at least one year of experience in a mortgage related business.
D. Mortgage Broker Licensees must complete 14 hours of continuing education every two years.
E. Unlicensed Loan Officers who are employed by a licensed lender must complete standard continuing education of 14 hours every two years.
F. Licensed Lenders must have a Licensed Mortgage Broker Principal who has completed the 24 hour requirement and passed the mortgage broker examination.

Mortgage-Education.com is pleased to offer a variety of web based courses that have been accredited by the State of Florida to meet continuing education requirements only.

* Mortgage-Education.com offers no Pre-License education or testing for the State of Florida.

Continuing Education
Frequently Asked Questions

Reference: Rule 3D-40.0271, F.A.C.
List of Continuing Education Schools

1. Is Continuing Education required before I can renew my individual Mortgage Broker license for the period 2003-2005?

Yes - If your license was approved before September 1, 2001.

NO If your license was approved on September 1, 2001 or thereafter. (The 24 hour course you completed in order to receive your license will satisfy the continuing education requirement for your first renewal only.)
(See the NOTICE below if you are a principal representative, loan originator or associate of a licensed lender.)

2. Is Continuing Education required before we can renew our current Mortgage Brokerage Business or Lender licenses?

Yes - Lenders must certify that their Principle Representatives as well as their associates and loan originators, have completed the required training at the time of their renewal in August, 2004.

NO - Mortgage Brokerage Businesses are not required to certify continuing education requirements for their associates as each of them are required to do so when they renew their individual mortgage broker license.

3. When are Principal Representatives, Loan Originators and Associates of licensed Lenders required to complete their 14 hours of continuing education?

August 31, 2004 Renewal deadline for lenders

********************************************************

*NOTICE ---Mortgage Brokers who are Lender Associates, Principal Representatives or Loan Originators PLEASE NOTE * If you are a licensed Mortgage Broker who works as an independent contractor with a lender, you are an "Associate" of a Lender. If you are a licensed Mortgage Broker who works for a lender as their Principal Representative or as a Loan Originator, this notice is intended for you also. In each case, you should complete your Continuing Education AFTER October 1, 2002 in order to be certified by the lender on their 2004 renewal and BEFORE August 31, 2003 in order to be certified on your personal Mortgage Broker 2003 renewal form. (Associates, please note this is ONLY for those who are associates of Lenders and NOT those who are associates of Mortgage Brokerage Businesses.)

********************************************************

4. Do I report this training to the Department of Financial Services?

NO- DO NOT send your certificate of continuing education or any other type of notice to the Department unless otherwise requested.