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15 Cards in this Set
- Front
- Back
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Oversees all financial institutions in FL. Made up of 3 divisions -Consumer Finance -Financial Institutions -Securities |
"The Office" |
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Processes licenses to ensure only persons & businesses meeting FL law requirements are allowed to conduct business in FL.
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Rulemaking body & Agency head of OFR |
"The Commission" |
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Oversees the regulation of non-depository financial services professionals |
"The Division" |
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Chapter that permits the Commission to establish rules barring mortgage professionals from practice in the mortgage field due to criminal charges or plea bargains. |
Chapter 494 |
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Disqualifying period fro misdemeanors involving fraud, dishonest or any other act of moral turpitude.
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5 years |
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Disqualifying period for felonies involving moral turpitude.
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15 years |
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Originator in charge/responsible for the operation of the branch office of a mortgage broker or lender. |
Branch manager |
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Individual, partnership, corporation, trust, or other organization that possess the power to direct the management policies of a company.
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Control person |
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Statement by the lender setting fort the terms and conditions upon which the lender is willing to make a particular mortgage loan to a particular borrower. |
Loan Commitment |
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Change that would be important to a reasonable borrower in making a borrowing decision, including a charge in the interest rate previously offered to a borrower, a change in the type of loan offered, or a change in fees to be charged resulting in a total of greater than $100. |
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Max fees/commissions on mortgage loans of $1000 or less.
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$250 |
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Max fees/commissions on mortgage loans between $1000-$2000.
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$250 for the first $1000, and $10 for each additional $100. |
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Max fees/commissions on mortgage loans between $2000-$5000 |
$350 for the first $2000 & $10 for each additional $100 |
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Max fees/commissions on mortgage loans exceeding $5000 |
$250 plus 10% of the entire mortgage loan. |
