Loan Originator License:
When it comes to loaning large sums of money, it makes sense that the person doing so is qualified. Therefore, Florida law requires that all employees of the Florida Department of Consumer Finance (except those who handle or transmit completed paperwork) to be fingerprinted. In order to obtain a Florida Loan Originator License, the following must be completed:
(See FL Statutes 494.001-494.00296)
- Florida-specific, real estate training
- A completed, loan originator application
- Both state and federal-level background checks
Note: The Florida Office of Financial Regulation will not review any loan originator applications that are submitted prior to completing all the above steps.
While it is not required nationally, Florida specifically enforces compliance with the S.A.F.E Mortgage Licensing Act of 2008 and all of its associated training modules. Completion of your final exams without a fingerprint-based background check with a state-approved, livescan vendor will result in the automatic denial of your application.
There are many steps to achieving a Florida Loan Originator License– with good reason. That is why BioMetric Impressions Corp. is here to help you through the entire process. We are well-versed in completing accurate and timely fingerprint background checks for states and the FBI. If you have further questions, see the helpful, step-by-step PDF created by the Nationwide Licensing System board here.
Mortgage Lender and Mortgage Broker Licenses:
Although these two types of mortgage licenses are very different, they have some key overlaps in the state of Florida. As described by the Nationwide Multistate Licensing System, new companies applying for a Florida Mortgage Lender license must submit a Form MU1 as well as an external application through the NMLS website. An instructional guide on how to do so may be found here.
Since the entire company cannot be certified as a mortgage lender, a designated control person(s) is responsible for completing a credit check and Florida state-level and FBI background checks. Without satisfying all of these requirements prior to submitting your application for a Florida Mortgage Lender license to the Florida Office of Financial Regulation, it will automatically be denied.
Note: The chosen individuals for this role must already be certified as a Florida Loan Originator. See our guide above for more information on that process.
When it comes to receiving a Florida Mortgage Broker license, the steps are very similar to becoming a Mortgage Lender. The same Form MU1 and external application must be completed by the company applicant, whose chosen control person(s) must produce a credit score along with Florida state and federal-level background checks. General information about the Florida Mortgage Broker may be found on the website of the Florida Office of Financial Regulation.
It is recommended that companies read all of the requirements for the license, as the exclusion of any before submitting the application to the FL Office of Financial Regulation will result in automatic denial. An exhaustive list of all materials, applications, and training workshops may be found on the Nationwide Multistate Licensing System.
Note: Not only does the control person need a valid Florida Loan Originator license, but they must have at least a year of experience with it, before applying for a Mortgage Broker license.
Our job at BioMetric Impressions Corp. is to eliminate any fears of complications when it comes to obtaining your Florida Mortgage Lender or Mortgage Broker license(s). All fingerprint-based background checks with us are guaranteed to be accurate and sent to the exact departments that they are needed at on the state and federal levels. We want you doing what you love, not wading through red-tape!