Florida Statute 494.004 | Lawyer Caselaw & Research

The 2024 Florida Statutes

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

Chapter 494
LOAN ORIGINATORS AND MORTGAGE BROKERS

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F.S. 494.004

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

Arrestable Offenses / Crimes under Fla. Stat. 494.004

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 494.004.

Annotations, Discussions, Cases:

Cases Citing Statute 494.004

Total Results: 12

Doorbal v. State

Court: Fla. | Date Filed: 2008-02-14T00:00:00-08:00

Citation: 983 So. 2d 464

Snippet: between June 16 and October 25, 2004, counsel billed 494.4 hours for representation of Doorbal. The majority

Steinberg v. Brickell Station Towers Inc.

Court: Fla. Dist. Ct. App. | Date Filed: 1993-06-15T00:00:00-07:00

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

Snippet: broker’s license issued by the State of Florida. § 494.04(1), Fla.Stat. (1983). The trial court denied the…unlicensed person to act as a mortgage broker. § 494.04(1), Fla.Stat. (1983). A mortgage broker is “any

Manor Care, Inc. (Sarasota) v. Department of Health & Rehabilitative Services

Court: Fla. Dist. Ct. App. | Date Filed: 1989-10-03T00:00:00-07:00

Citation: 558 So. 2d 26, 14 Fla. L. Weekly 2323, 1989 Fla. App. LEXIS 5456, 1989 WL 113244

Snippet: HRS during its preliminary action. Section 381.494(4), Florida Statutes (1985), which is applicable in

NME Hospitals, Inc. v. Department of Health

Court: Fla. Dist. Ct. App. | Date Filed: 1986-06-24T00:53:00-07:00

Citation: 492 So. 2d 379

Snippet: it did not contain, as required by section 381.494(4)(a), a statement of the proposed project's &… hearing was not in compliance with section 381.494(4)(a)'s requirement that the application contain

Gulf Court Nursing Center v. DEPT. OF HEALTH

Court: Fla. Dist. Ct. App. | Date Filed: 1986-02-13T23:53:00-08:00

Citation: 483 So. 2d 700

Snippet: XV of the Public Health Service Act." § 381.494(4)-(a), Fla. Stat. (1983) (emphasis added). The Department

Republic Funding Corp. v. Americable Associates, Ltd.

Court: Fla. Dist. Ct. App. | Date Filed: 1985-10-29T00:00:00-08:00

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

Snippet: barred by the Florida Mortgage Brokers Act, section 494.04(1), Florida Statutes (1983): No person shall act…took place in Florida, it is clear that section 494.04, which refers specifically to one’s acting as a…have involved a regulatory provision like section 494.04— does not subject the entire transaction to the…$200,000 mortgage did not place the loan under section 494.04.6 II The trial court ruled, and the parties now

Voce v. State

Court: Fla. Dist. Ct. App. | Date Filed: 1984-10-03T00:53:00-07:00

Citation: 457 So. 2d 541

Snippet: States citizenship requirement set forth in Section 494.04(2), Florida Statutes (1981), is invalid on equal…foregoing section necessarily incorporates Section 494.04, Florida Statutes. Subsection (1) of that statute… has demonstrated that the provision in Section 494.04(2) that makes United States citizenship a requirement…Constitutional Law, § 15:36, p. 698. Examination of Section 494.04 discloses that it does not meet the foregoing test…broker's license and his failure under Section 494.04 to apply for a license precluded him from having

Blouin v. American Liberty Insurance

Court: Fla. Dist. Ct. App. | Date Filed: 1979-07-10T00:00:00-07:00

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

Snippet: mortgage broker’s bond, posted pursuant to Section 494.04(12), Florida Statutes, (1975). The parties are … with the State of Florida, pursuant to Section 494.04(12), Florida Statutes (1975), “for the benefit

Ago

Court: Fla. Att'y Gen. | Date Filed: 1974-11-12T23:53:00-08:00

Snippet: of the State of Florida within the purview of s. 494.04(2), F.S.? SUMMARY: Chapter 74-37, Laws of Florida…effectively repeals the noncitizen exclusion of s. 494.04(2), F.S., and the Department of Banking and Finance…of the State of Florida within the purview of s. 494.04(2), F.S. Your questions are answered in the affirmative…affirmative as limited by the discussion herein. Section 494.04(2), F.S., provides: No mortgage broker's or…conflicts with the citizenship requirement of s. 494.04(2), supra. In situations such as this, the later

Travelers Indemnity Company v. Askew

Court: Fla. Dist. Ct. App. | Date Filed: 1973-07-12T00:53:00-07:00

Citation: 280 So. 2d 469

Snippet: 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, §

Sonnenblick-Goldman of Miami Corp. v. Feldman

Court: Fla. Dist. Ct. App. | Date Filed: 1972-07-25T00:00:00-07:00

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

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

Long v. Anderson

Court: Fla. | Date Filed: 1904-06-15T00:00:00-08:00

Citation: 48 Fla. 279

Snippet: Brewster, 9 Paige 245; Dawson v. Amey, 40 N. J. Eq. 494, 4 Atl. Rep. 442; Saylor’s App. 39 Pa. St. 495; Kempton