Posts Tagged ‘unlicensed mortgage brokers’

Florida Mortgage Brokers License

Monday, June 11th, 2012

In order to obtain a Mortgage Brokers License in the State of Florida, the Florida Department of Banking and Finance, Division of Finance, located in Tallahassee, Florida, will oversee all aspects of the mortagage licensing laws.  They have all current information regarding the Florida Mortgage Law on their website, and the latest news regarding requirements for licensure.  This is a valuable website for anyone seeking a mortgage brokers license as well as current licensed mortgage brokers.

To obtain a Mortgage Brokers License in Florida you must be 18 years old,  take 24 hours of classroom instruction at an approved, qualified school, and pass the written exam. After receiving your license, you must take an additional 14 hours of continuing education by an approved, qualified provider. Before final approval, every applicant must submit fingerprints to either the FBI or the Florida Department of Law Enforcement.  If there are any pending actions that may involve fraud, dishonest dealing, or acts of moral turpitude the license may be denied.

The Florida Mortgage Brokers License fee is $195 for a license and $43 for the exam.

Two important associations also to obtain information from are The Florida Association of Mortgage Brokers, and the National Association of Mortage Brokers, also known as NAMB.

The information in this article should not replace the valuable and current information obtained from the above mentioned organizations.  Always check with them to get the latest and most updated information.

Soreide Law Group, PLLC, will have a qualified attorney speak to you at no charge regarding Florida Mortgage Brokers Licensing issues.To make an appointment please call : (888) 760-6552, or visit our website at: www.floridaprofessionallicense.com .

Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Uncategorized | Comments Off

FLORIDA’S OFFICE OF FINANCIAL REGULATION SERVES THE 100TH CEASE & DESIST ORDER AS PART OF THE STATEWIDE CRACKDOWN ON UNLAWFUL MORTGAGE MODIFICATION ACTIVITIES

Friday, April 8th, 2011
In a March, 2011, article on Florida’s Office of Financial Regulation’s website that the Florida Office of Financial Regulation (OFR) Commissioner Tom Cardwell announced the 100th Cease & Desist Order was served in Florida to companies conducting unlawful loan modification services. 
  
Commissioner Tom Cardwell cautions citizens against paying any upfront fees for loan modifications, which are illegal. “If the person asks for any money upfront, simply turn and walk away,” Cardwell advised. “Consumers are desperate for help, but they should know their rights under the law before they act so they can protect themselves from becoming victims of financial fraud during these difficult economic times. Many of our citizens find themselves in difficult financial situations, which make them easy prey for these corrupt individuals who charge for services they do not complete and make promises they have no intention of keeping. Our goal is to ensure Floridians only pay for loan modification services that are a true benefit, not an unrealistic promise, to solve their financial problems.”
 
Companies providing loan modification services such as adjusting interest rates or any other services must have an active license from OFR. Any person or entity that continues to engage in loan modifications in this state without an active license is guilty of a third-degree felony punishable by a prison term of up to five years and a fine not to exceed $5,000 per offence.
 
The Florida Office of Financial Regulation offers the following tips for consumers to identify potential fraud and avoid becoming a victim:
 
• Do your research! Check the regulatory requirements the profession adheres to and confirm the person you are working with has a professional license. Also check if any complaints have been filed against the company or individual. 
• Always get your agreement in writing and specify the services to be provided.
• NEVER pay any upfront fees for loan modification services. It is illegal to charge consumers for any services until after they have been rendered.
• Immediately get help if you feel you have been victimized.

If you are a Licensed Mortgage Broker in the State of Florida,The Soreide Law Group, PLLC, will represent you regarding licensing issues. To make an appointment to speak with an experienced and qualified attorney please call Soreide Law Group at:  (888) 760-6552 or visit our website at:  www.floridaprofessionallicense.com.  

Tags: , , , , , , , , , , , , , , , , , , , , , , , ,
Posted in Uncategorized | Comments Off

Orlando Loan Modification Company & its Principal Served with Order to Cease and Desist

Wednesday, April 7th, 2010
TALLAHASSEE, Fla (March 25, 2010) – The Florida Office of Financial Regulation (OFR) issued and served an Order to Cease and Desist all loan modification services to The Loan Critics, LLC at 1737 Sunset View Circle, Apopka, Florida 32703, and James Palmer. The orders charged that the company is acting in violation of Florida laws (F.S. Chapter 494,) prohibiting unlicensed businesses or individuals from providing loan modification services.
 
“We have a lot of people out of work and struggling to keep their homes that are looking for help.  Some are paying for services they never get,” said OFR Commissioner Tom Cardwell. “It is important that our residents know their rights and the laws that help protect them from being victimized in their time of need.”
 
The new law, effective as of January 1, 2010, requires companies and all individuals in the companies that are conducting loan modification services to now be properly licensed.  In addition, the law requires promised services and expected outcomes be provided in writing and no upfront fees be charged in advance of the client benefiting from the loan modification services.

By Florida law, any person or company providing loan-modification services must have an active license from the Florida Office of Financial Regulation.

Soreide Law Group will represent you in front of the Florida Office of Financial Regulation regarding loan modification licensing issues.  To speak to an attorney, please call: (888)760-6552 or visit our website at: www.floridaprofessionallicense.com.

Tags: , , , , , , , , , , , ,
Posted in Florida License Issues | Comments Off