Mortgage Broker and Branches

ML: Mortgage Lender – Chapter 494, Florida Statutes: This license is required for an entity making a mortgage loan for compensation or gain, directly or indirectly, or selling or offering to sell a mortgage loan to a noninstitutional investor.

"Making a mortgage loan" means closing a mortgage loan in a person's name, advancing funds, offering to advance funds, or making a commitment to advance funds to an applicant for a mortgage loan.

Mortgage Lender Servicer: The mortgage lender servicing license is required for any mortgage lender licensee who services a mortgage loan.

"Servicing a mortgage loan" means to receive, cause to be received, or transferred for another, installment payments of principal, interest, or other payments pursuant to a mortgage loan.

The servicing license authorizes a mortgage lender to service a loan for more than 4 months.

MLB: Mortgage Lender Branch – Chapter 494, Florida Statutes: This license is required for mortgage lender licensees who conduct business at locations other than their principal place of business:

1. The address of which appears on business cards, stationery, or advertising used by the licensee in connection with business conducted under this chapter;
2. At which the licensee's name, advertising or promotional materials, or signage suggests that mortgage loans are originated, negotiated, or funded;
3. At which mortgage loans are originated, negotiated, or funded by a licensee.

Mortgage Lender Servicer Branch: This license is required for mortgage lender servicer licensees who conduct business at locations other than their principal place of business:

1. The address of which appears on business cards, stationery, or advertising used by the licensee in connection with business conducted under this chapter;
2. At which the licensee's name, advertising or promotional materials, or signage suggests that mortgage loans are serviced; or
3. At which mortgage loans are serviced by a licensee.