Florida Statute 494.0076 | 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. 494.0076

494.0076 Servicing audits.—

(1)(a) Each licensee under this part who services mortgage loans shall:

1. Maintain a segregated set of records for accounts that are serviced by the licensee.

2. Have a separate, segregated depository account for all receipts relating to servicing.

(b) For fiscal years ending after January 1, 1992, such records and receipts shall be audited annually pursuant to the Uniform Single Audit Program for Mortgage Bankers as approved by the Mortgage Bankers Association of America with the cooperation of the American Institute of Certified Public Accountants.

(2)(a) In lieu of the audit referred to in subsection (1), a person who services an aggregate value of less than $7.5 million in outstanding mortgage loans, excluding mortgage loans serviced under contract as an agent for federal, state, or municipal agencies, may obtain a fidelity bond, financial guaranty bond, fidelity insurance, or other financial guaranty providing protection against theft, loss, or other illegal diversion of funds for any amounts normally held by such person.

(b) The commission may adopt rules to ensure that investors are adequately protected under this subsection.

History.—ss. 48, 50, ch. 91-245; s. 4, ch. 91-429; s. 546, ch. 2003-261; s. 60, ch. 2009-241.

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Amendments to 494.0076

Arrestable Offenses / Crimes under Fla. Stat. 494.0076

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 494.0076.

Annotations, Discussions, Cases:

Cases Citing Statute 494.0076

Total Results: 10

Metropolitan Dade County v. Fonte

Court: District Court of Appeal of Florida | Date Filed: 1996-12-11

Citation: 683 So. 2d 1117, 1996 Fla. App. LEXIS 12818, 1996 WL 708903

Snippet: (1931), appeal dismissed, 286 U.S. 523, 52 S.Ct. 494, 76 L.Ed. 1267 (1932), the statutory language, which

Capital Bank v. Needle

Court: District Court of Appeal of Florida | Date Filed: 1992-03-18

Citation: 596 So. 2d 1134, 1992 WL 48704

Snippet: (Fla. 1931), app. dism., 286 U.S. 523, 52 S.Ct. 494, 76 L.Ed. 1267 (U.S. 1932); Provost v. Swinson, 109

Dept. of Revenue v. First Union Nat. Bk.

Court: Supreme Court of Florida | Date Filed: 1987-09-24

Citation: 513 So. 2d 114, 12 Fla. L. Weekly 489, 1987 Fla. LEXIS 2717

Snippet: indirectly upon such income or property." 350 U.S. at 494, 76 S.Ct. at 535, 100 L.Ed. at 637 (citations omitted)

Corn v. State

Court: Supreme Court of Florida | Date Filed: 1976-03-19

Citation: 332 So. 2d 4

Snippet: 795 (1931), appeal dism. 286 U.S. 523, 52 S.Ct. 494, 76 L.Ed. 1267; Haworth v. Chapman, 113 Fla. 591, 152

State v. Aiuppa

Court: Supreme Court of Florida | Date Filed: 1974-05-01

Citation: 298 So. 2d 391

Snippet: 795 (1931), appeal dism. 286 U.S. 523, 52 S.Ct. 494, 76 L.Ed. 1267; Haworth v. Chapman, 113 Fla. 591, 152

Burnsed v. Seaboard Coastline Railroad Company

Court: Supreme Court of Florida | Date Filed: 1974-02-06

Citation: 290 So. 2d 13, 1974 Fla. LEXIS 4389

Snippet: 795 (1931), appeal dism. 286 U.S. 523, 52 S.Ct. 494, 76 L.Ed. 1267; Haworth v. Chapman, 113 Fla. 591, 152

State v. Mayhew

Court: Supreme Court of Florida | Date Filed: 1973-12-19

Citation: 288 So. 2d 243

Snippet: 795 (1931), appeal dism., 286 U.S. 523, 52 S.Ct. 494, 76. L.Ed. 1267; Haworth v. Chapman, 113 Fla. 591,

State v. Mayhew

Court: Supreme Court of Florida | Date Filed: 1973-12-19

Citation: 288 So. 2d 243, 1973 Fla. LEXIS 3990

Snippet: 795 (1931), appeal dism., 286 U.S. 523, 52 S.Ct. 494, 76 L.Ed. 1267; Haworth v. Chapman, 113 Fla. 591, 152

Tornillo v. Miami Herald Publishing Company

Court: Supreme Court of Florida | Date Filed: 1973-07-18

Citation: 287 So. 2d 78

Snippet: 795 (1931), appeal dism. 286 U.S. 523, 52 S.Ct. 494, 76 L.Ed. 1267; Haworth v. Chapman, 113 Fla. 591, 152

Watson v. City of Hallandale

Court: District Court of Appeal of Florida | Date Filed: 1966-12-08

Citation: 193 So. 2d 195

Snippet: Ocean & Lake Realty Co., 286 U.S. 523, 52 S.Ct. 494, 76 L.Ed. 1267 (1932); Malone v. Meres, 91 Fla. 709