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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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