A license search on the Office of Financial Regulations website shows that my current Florida Mortgage Broker license wont expire until August 31, 2011. Can I continue transacting mortgage business until then?
Though the OFR website implies Mortgage Broker licenses wont expire until August 31, 2010, a recent amendment to the Florida Mortgage Brokerage & Lending Act changes the expiration date to December 31, 2010. However, an extension of the expiration date will be given to actively licensed Mortgage Brokers who apply for a Loan Originator license between October 1, 2010 and December 31, 2010. The Mortgage Broker license of these applicants will not expire until the OFR either approves or denies the MLO application. Those whose Mortgage Broker licenses are inactive (or expired) will not be given an extension (read about inactive licenses here). Note: Florida Mortgage Brokers who are certified should apply for the MLO license between October 1, 2010 and November 30, 2010 to remain exempt from certain pre-licensing requirements (click here to find out what it means to be certified).
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