FL H1081

Amends the definition of "mortgage loan" in Florida Statutes section 494.001 to reference the federal Truth in Lending Act section 103(v) instead of section 103(w).

Adds a new subsection to section 494.00115 defining what it means to "hold himself or herself out to the public as being in the mortgage lending business" through five specific activities.

Activities that constitute holding oneself out as a mortgage lender include advertising mortgage lending services through business cards, promotional materials, and other media.

Activities also include soliciting borrowers in a manner implying mortgage lending business, maintaining commercial premises for mortgage activities, using names or Internet addresses implying licensed mortgage lending status, and using forms approved by federal mortgage entities.

Effective date is January 1, 2018.