Loan Originator

LO: Loan Originator – Chapter 494, Florida Statutes: The license is required for an individual who, directly or indirectly, solicits or offers to solicit a mortgage loan , accepts or offers to accept an application for a mortgage loan, negotiates or offers to negotiate the terms or conditions of a new or existing mortgage loan on behalf of a borrower or lender, or negotiates or offers to negotiate the sale of an existing mortgage loan to a non-institutional investor for compensation or gain. The term includes an individual who is required to be licensed as a loan originator under the S.A.F.E. Mortgage Licensing Act of 2008.

The term does not include an employee of a mortgage broker or mortgage lender whose duties are limited to physically handling a completed application form or transmitting a completed application form to a lender on behalf of a prospective borrower.

Mortgage Broker and Branches

MB & MBB: Mortgage Broker and Branches – Chapter 494, Florida Statutes: The license is required for an entity conducting loan originator activities through one or more licensed loan originators employed by the mortgage broker or as independent contractors to the mortgage broker.

Mortgage Broker Branch: This license is required for mortgage broker 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 or negotiated.
3. At which mortgage loans are originated or negotiated by a licensee.

Mortgage Lender 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.