If disclosure of the maximum amount of payment of any kind from the lender was disclosed on the initial mortgage brokerage contact and the licensee collects that exact amount do they have to do a second mortgage brokerage contract pursuant to §494.0038(1)(b)2, Florida Statutes?

 

No, effective 10/1/2010, Section 494.0038(2)(a), F.S., states “Notification is waived if the exact amount of the payment is accurately disclosed in the written mortgage broker agreement.”