What are some of the changes in the mortgage lender laws?
A mortgage lender shall report any changes in the principal loan originator, control person or any change in business organization by written amendment in such form and at such time that Financial Services Commission specifies by rule. (F. S. 494.0067(4)) Any addition of a control person who has not previously filed a Uniform Mortgage Biographical Statement & Consent Form, Form MU2, or has not previously complied with the fingerprinting and credit report requirements of mortgage lender license is subject to the mortgage lender requirements. (F.S. 494.0067(4)(b)) If after the addition of a control person the OFR determines that the licensee does not continue to meet the licensure requirements, the OFR may bring administrative actions to enforce the mortgage lender requirements. . (F.S. 494.0067(4)(b)) Each mortgage lender shall report any indictment, information, charge, conviction or plea of guilty or nolo contendere, regardless of adjudication, to any felony or any crime or administra
