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Chapter 69V-40, FAC - Rules

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ML:   Mortgage Lender
The primary location (main office) of an entity that may make loans and may service loans for others on Florida real estate. The lender is authorized to originate a mortgage loan and may close loans in the name of a licensee, and is authorized to broker mortgage loans. In addition, a mortgage lender is the only licensee authorized to sell loans to non-institutional investors and to service loans for individuals. The licensee must be a lawfully formed entity such as a corporation, limited liability company or a partnership.

MLB:   Mortgage Lender Branch
Any subsequent location of a mortgage lender (other than the main office) that is also conducting mortgage business on real estate located in the state of Florida.

 

MLS:  Mortgage Lender Savings Clause
This license authorizes the holder to originate a mortgage loan and service for others indefinitely. As of 1/1/92, this license type can no longer be applied for due to a law change.

 

MLST:   Mortgage Lender Savings Clause Transfer
This license authorizes the holder to originate a mortgage loan and service for others indefinitely.

 

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Mortgage Lender and Branch


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Updated: 14 May 2008

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