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FAQ - Licensing Questions
License Requirements for Mortgage Brokers/ Loan Originators /
Loan Modifers
Where do I go to
get a application?
What is
the cost to apply for the state exam?
Can I take the state exam before the 24 Hour Pre-Licensing
Course?
Where do I schedule the State of Florida Mortgage Exam?
What is
the continuing Education requirement?
Do you
provide a Continuing Education Course?
What is your school
Policy?
Do I have
to Bring anything to class?
NEW: LOAN MODIFERS (MUST BE LICENSED) IMMEDIATELY !!!
I
modify loans, Do I have to Be licensed?
License Requirements for Mortgage Brokers/ Loan Originators/
Loan Modifers
 *
18 years of age and have a high school diploma or equivalent
* Have passed a written state exam
* Submitted a completed
application with state fee
* Filed a complete set of
fingerprints
* Have completed 24 Hours Pre-Licensing Course
Where do I
go to get a application?
The application to
become a licensed mortgage broker in the state of Florida can be
obtained online through the Office of Financial Regulation.
http://www.flofr.com To submit an online application go to
http://real.flofr.com/ A hard copy of the application can be
sent to the state by mail and can be downloaded at:
http://www.flofr.com/Finance/Forms/mbapp.pdf
What is
the cost to apply for the state exam?
$238.25 (This includes your license) Paid to the State when
you complete the State required application/
Can I take the state exam before the 24 Hour Pre-Licensing
Course?
Applicants are able to apply for the
mortgage license before taking the 24-hour pre-licensing course
and may also take the state exam. We do not recommend taking the
state exam first because the class prepares the applicant for
the state exam. The state will only approve the
application if the applicant provides evidence that they have
fulfilled the educational requirement.
Where do I schedule the State of Florida Mortgage Exam?
Applicants first must submit their application for mortgage
broker/ loan originator license before taking the state exam.
Upon receipt of an application each test candidate is
responsible for scheduling his or her mortgage broker
examination with the Office of Financial Regulation or its
designee. The current designee is Person VUE testing
center and they have testing facilities across Florida and the
nation. The applicant will receive in the mail from the
Office of Financial Regulation the information needed, including
authorization codes, to take the exam and the information on
scheduling.
What is
the continuing Education requirement?
Everyone
that is licensed as a mortgage broker, loan originator and
principal representative must satisfactorily complete 14 hours
of professional continuing education covering primary and
subordinate financing transactions and appropriate laws and
regulations governing such transactions. The professional
continuing education course may be offered through classroom
instruction, electronic transmission (internet) or distance
learning.Do
you provide a Continuing education Course?
We
offer the continuing education course as a home study course.
The course material will be emailed with the exam and the
student must email or mail back the answer sheet to get credit.
The first continuing education course is provided free of charge
to students who take the 24-Hour pre-licensing course. Otherwise
the charge is $45.00.What
is your school policy?
 The
course completion certificate will not be given to any student
who has any absences. You must check with your instructor
or the administration office if you miss any of the classroom
instruction.
A student may repeat the course at no
additional tuition charge within 3 months of the start date of
the original class on a space available basis.
You may
apply for a partial refund prior to classroom attendance. Class
cancellation is subject to a $100 cancellation fee, or the
student may re-schedule for a later class date. If student does
not give at least 24 hour notice of cancellation before
scheduled class than no refund is permitted.
What do I bring to the
class?
We provide all course material for you.
Please bring a financial calculator to the class.
NEW: LOAN MODIFERS (MUST BE LICENSED) IMMEDIATELY !!!
I
modify loans, Do I have to Be licensed?
Yes if you do any loan modification services in Florida you
must hold an active mortgage broker / loan originator license.
This course is the state required course you must take in order
to become licensed mortgage broker / loan originator. The
deadline for anyone to become licensed to conduct loan
modifications was on 12/31/2009
The fine if you do loan modification services without a
license is $1,000 a day !!!
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