Florida Legislation

New Florida Law Raises Concerns for Florida Private Lenders

By |2024-01-24T09:14:17-06:00January 23rd, 2024|Compliance|0 Comments

Law restricts certain foreign persons from acquiring real property in Florida. A new Florida law is raising concerns for private lenders. Although its greatest impact is on transactions that finance Florida real property purchased by certain foreign persons associated with the People’s Republic of China, it also affects transactions that finance the property purchases of [...]

By |2024-01-24T09:14:17-06:00January 23rd, 2024|Compliance|0 Comments

What Is the Biggest Legislative Challenge Facing the Private Lending Industry?

By |2020-12-11T15:14:08-06:00December 11th, 2020|Advocacy|0 Comments

This year, AAPL’s Government Relations Committee (GRC) has tackled a wide range of issues on behalf of the private lending community. In New York, Senate Bill S3060E sought to increase the transfer tax on fix-and-flip residential property by 15% to 20%. The bill saw no movement this year, although it is unclear if it was [...]

By |2020-12-11T15:14:08-06:00December 11th, 2020|Advocacy|0 Comments

Florida Business-Purpose Checklist

By |2019-05-10T15:40:36-05:00May 10th, 2019|Advocacy|0 Comments

How to determine what qualifies as a business purpose mortgage loan Florida House Bill 935 goes into effect July 1, 2019. It adds stiff penalties for misrepresenting a consumer mortgage loan as a business purpose mortgage loan. The former requires a mortgage lender license to transact. Violations are punishable at minimum as third-degree felonies. We’ve [...]

By |2019-05-10T15:40:36-05:00May 10th, 2019|Advocacy|0 Comments

Florida Mortgage Licensing Language Defeated

By |2021-06-08T12:33:25-05:00May 3rd, 2019|Advocacy|0 Comments

The Florida Senate on Thursday substituted and passed companion House Bill 7103 in place of Senate Bill 1730 and adjusted to match the Senate bill’s language – with one large exception. Legislators chose to leave out the Senate bill’s modifications to the definition of a mortgage loan which would have required a license for business [...]

By |2021-06-08T12:33:25-05:00May 3rd, 2019|Advocacy|0 Comments

Support an Amendment to FL SB 1730

By |2021-06-08T12:33:39-05:00April 22nd, 2019|Advocacy|0 Comments

UPDATE 4/24: Senator Stargel withdrew amendment 356486 during Tuesday's Committee on Rules meeting. Act to oppose Section 7 of SB 1730 Now Currently, Florida Senate Bill 1730 contains language that would require a mortgage lender license to transact any loan secured by a dwelling. This language would sunset a long-standing exemption that allows private lenders [...]

By |2021-06-08T12:33:39-05:00April 22nd, 2019|Advocacy|0 Comments

Florida Senate Bill 1730 now with Senate

By |2021-06-08T13:49:42-05:00April 12th, 2019|Advocacy|0 Comments

UPDATE 4/30: SB 1730 is scheduled for review before the Florida Senate. Help us oppose SB 1730 Section 9 by contacting legislators. The mortgage lender licensing language is now in Section 9 of SB 1730. It was previously in Section 7. We have updated the information below to reflect this change. Find out what you [...]

By |2021-06-08T13:49:42-05:00April 12th, 2019|Advocacy|0 Comments

AAPL Opposes Florida Senate Bill 1730

By |2021-06-08T12:33:46-05:00April 3rd, 2019|Advocacy, News|0 Comments

Florida legislators have introduced the same mortgage licensing language from Senate Bill 1632 into an affordable housing bill, SB 1730. Senator Taddeo, SB 1632’s bill sponsor, requested a temporary postponement of SB 1632 due the presence of the same language in SB 1730. Senator Taddeo made the postponement request during the Senate Committee on Banking [...]

By |2021-06-08T12:33:46-05:00April 3rd, 2019|Advocacy, News|0 Comments

Legislative Alert: Florida Senate Bill 1632 Scheduled for Review

By |2021-06-08T12:33:55-05:00March 29th, 2019|Advocacy, News|0 Comments

The Florida Senate Banking and Insurance Committee is now scheduled to review SB 1632. You can attend the 4 p.m. EST Committee Meeting on 4/1/2019 to show your opposition in person. More details on how to do this below. Review Date: Monday, April 1 Time: 4-6 p.m. Location: Pat Thomas Committee Room, 412 Knott Building [...]

By |2021-06-08T12:33:55-05:00March 29th, 2019|Advocacy, News|0 Comments

AAPL Opposes Florida’s Re-Attempt to Regulate Private Lending

By |2019-03-29T13:35:55-05:00March 18th, 2019|News|0 Comments

Current bill aims to remove the long-standing business purpose exception from mortgage lender licensing In 2008, the United States Congress passed the Safe and Fair Enforcement for Mortgage Licensing Act (SAFE Act), which required all state regulators to regulate mortgage loan originators who originated consumer loans secured by 1-4-unit residential properties (“Dwellings”). The states were [...]

By |2019-03-29T13:35:55-05:00March 18th, 2019|News|0 Comments

Florida Attempting to Regulate Private Lending

By |2021-06-08T13:51:19-05:00February 2nd, 2018|Advocacy, News|1 Comment

What You Need to Know and What you can do In 2008, the United States Congress passed the Safe and Fair Enforcement for Mortgage Licensing Act (SAFE Act), which required all state regulators to regulate mortgage loan originators who originated consumer loans secured by 1-4 unit residential properties (“Dwelling”). The states were empowered to legislate [...]

By |2021-06-08T13:51:19-05:00February 2nd, 2018|Advocacy, News|1 Comment

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