Florida Statute 494.004 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXIII
REGULATION OF TRADE, COMMERCE, INVESTMENTS, AND SOLICITATIONS

Chapter 494
LOAN ORIGINATORS AND MORTGAGE BROKERS

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494.004 Requirements of licensees.—

(1) Each licensee under this part shall report to the office:

(a) In writing, any conviction of, or plea of nolo contendere to, regardless of adjudication, any felony or any crime or administrative violation that involves fraud, dishonesty, breach of trust, money laundering, or any other act of moral turpitude, in any jurisdiction, by the licensee or any control person within 30 days after the date of conviction, entry of a plea of nolo contendere, or final administrative action.

(b) In a form prescribed by rule of the commission, any conviction of, or plea of nolo contendere to, regardless of adjudication, any felony committed by the licensee or any control person within 30 days after the date of conviction or the date the plea of nolo contendere is entered.

(d) On a form prescribed by rule of the commission, any change to the information contained in any initial application form or any amendment to the application within 30 days after the change is effective.

(e) Any change in the principal loan originator, any addition or subtraction of a control person, or any change in the form of business organization, by written amendment in the form and at the time the commission specifies by rule.

(f) Any addition of a control person who has not previously filed a Uniform Mortgage Biographical Statement & Consent Form, MU2, or has not previously complied with the fingerprinting and credit report requirements of ss. 494.00321 and 494.00322, is subject to the provisions of these sections. If, after the addition of a control person, the office finds that the licensee does not continue to meet licensure requirements, the office may bring an administrative action in accordance with s. 494.00255 to enforce the provisions of this chapter.

(2) Each mortgage broker shall submit to the registry reports of condition, which must be in such form and shall contain such information as the registry may require. The commission may adopt rules prescribing the time by which a mortgage broker must file a report of condition. For purposes of this section, the report of condition is synonymous with the registry’s Mortgage Call Report.

(3) A license issued under this part is not transferable or assignable.

History.—ss. 27, 50, ch. 91-245; s. 4, ch. 91-429; ss. 16, 17, ch. 99-213; s. 534, ch. 2003-261; s. 12, ch. 2006-213; s. 7, ch. 2007-182; s. 36, ch. 2009-241; s. 43, ch. 2014-91.

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Amendments to 494.004

Annotations, Discussions, Cases:

Cases Citing Statute 494.004

Total Results: 7

Voce v. State

457 So. 2d 541

District Court of Appeal of Florida | Filed: Oct 3, 1984 | Docket: 426329

Cited 4 times | Published

States citizenship requirement set forth in Section 494.04(2), Florida Statutes (1981), is invalid on

Travelers Indemnity Company v. Askew

280 So. 2d 469

District Court of Appeal of Florida | Filed: Jul 12, 1973 | Docket: 1687485

Cited 4 times | Published

concur. NOTES [1] F.S. Ch. 494, F.S.A. [2] F.S. § 494.04(12), F.S.A. [3] 12 Am.Jur.2d 508-509, Bonds,

Steinberg v. Brickell Station Towers Inc.

625 So. 2d 848, 1993 Fla. App. LEXIS 6440, 1993 WL 205365

District Court of Appeal of Florida | Filed: Jun 15, 1993 | Docket: 64743559

Published

broker’s license issued by the State of Florida. § 494.04(1), Fla.Stat. (1983). The trial court denied the

Republic Funding Corp. v. Americable Associates, Ltd.

478 So. 2d 1097, 10 Fla. L. Weekly 2435, 1985 Fla. App. LEXIS 16486

District Court of Appeal of Florida | Filed: Oct 29, 1985 | Docket: 64615717

Published

barred by the Florida Mortgage Brokers Act, section 494.04(1), Florida Statutes (1983): No person shall

Blouin v. American Liberty Insurance

375 So. 2d 326, 1979 Fla. App. LEXIS 15832

District Court of Appeal of Florida | Filed: Jul 10, 1979 | Docket: 64572036

Published

mortgage broker’s bond, posted pursuant to Section 494.04(12), Florida Statutes, (1975). The parties

Ago

Florida Attorney General Reports | Filed: Nov 13, 1974 | Docket: 3258332

Published

affirmative as limited by the discussion herein. Section 494.04(2), F.S., provides: No mortgage broker's or

Sonnenblick-Goldman of Miami Corp. v. Feldman

266 So. 2d 48, 1972 Fla. App. LEXIS 6229

District Court of Appeal of Florida | Filed: Jul 25, 1972 | Docket: 64527370

Published

statutes to support his contention. First, Fla.Stat. § 494.04(1), F.S.A., states: “No person shall act as a

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