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Florida Statute 494.42 - Full Text and Legal Analysis
Florida Statute 494.0042 | Lawyer Caselaw & Research
Link to State of Florida Official Statute
F.S. 494.0042 Case Law from Google Scholar Google Search for Amendments to 494.0042

The 2025 Florida Statutes

Title XXXIII
REGULATION OF TRADE, COMMERCE, INVESTMENTS, AND SOLICITATIONS
Chapter 494
LOAN ORIGINATORS AND MORTGAGE BROKERS
View Entire Chapter
F.S. 494.0042
494.0042 Loan origination fees.
(1) A loan origination fee earned by a licensee, pursuant to this part, is not considered interest or a finance charge under chapter 687.
(2) A person may not charge or exact, directly or indirectly, from the borrower a fee or commission in excess of the maximum fee or commission specified in this section. The maximum fees or commissions that may be charged for mortgage loans are as follows:
(a) On a mortgage loan of $1,000 or less: $250.
(b) On a mortgage loan exceeding $1,000 and not exceeding $2,000: $250 for the first $1,000 of the mortgage loan, plus $10 for each additional $100 of the mortgage loan.
(c) On a mortgage loan exceeding $2,000 and not exceeding $5,000: $350 for the first $2,000 of the mortgage loan, plus $10 for each additional $100 of the mortgage loan.
(d) On a mortgage loan exceeding $5,000: $250 plus 10 percent of the entire mortgage loan.

For the purpose of determining the maximum fee, the amount of the mortgage loan is based on the amount of mortgage loan actually funded exclusive of the authorized maximum fees or commissions.

(3) At the time of accepting a mortgage loan application, a mortgage broker may receive from the borrower a nonrefundable application fee. If the mortgage loan is funded, the nonrefundable application fee shall be credited against the amount owed as a result of the loan being funded. A person may not receive any form of compensation for acting as a loan originator other than a nonrefundable application fee or a fee based on the mortgage amount being funded.
History.ss. 29, 50, ch. 91-245; s. 4, ch. 91-429; s. 12, ch. 95-313; s. 38, ch. 2009-241; s. 44, ch. 2014-91.

F.S. 494.0042 on Google Scholar

F.S. 494.0042 on CourtListener

Amendments to 494.0042


Annotations, Discussions, Cases:

Cases Citing Statute 494.0042

Total Results: 3

Ieracitano v. Shaw

815 So. 2d 787, 2002 WL 985355

District Court of Appeal of Florida | Filed: May 15, 2002 | Docket: 1681633

Cited 4 times | Published

section 494.001 definitions do not apply to section 494.0042. We reject this interpretation of the statute

Marks v. Millman

641 So. 2d 414, 1993 WL 205602

District Court of Appeal of Florida | Filed: Jun 15, 1993 | Docket: 1648659

Cited 4 times | Published

51, Laws of Fla. (effective Oct. 1, 1991). Cf. § 494.0042, Fla. Stat. (1991) (brokerage fees) (effective

Dampier v. Department of Banking & Finance, Division of Finance

593 So. 2d 1101, 1992 Fla. App. LEXIS 672, 1992 WL 15886

District Court of Appeal of Florida | Filed: Jan 31, 1992 | Docket: 64665366

Published

494] committed by a licensee or registrant.” § 494.042(2), Fla.Stat. (1989). To the extent relevant to