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FL H0193
Bill
Status
Passed
3/22/2018
Primary Sponsor
Richard Stark
Click for details
AI Summary
- Exempts securities dealers, investment advisors, and associated persons registered under Florida securities law from mortgage brokering regulation when conducting normal securities business with clients
- Allows exempted parties to solicit or refer mortgage loans to securities clients, entities exempt from regulation, licensed mortgage brokers, licensed mortgage lenders, or registered loan originators
- Prohibits exempted parties from accepting mortgage applications, negotiating loan terms on behalf of borrowers or lenders, or negotiating sales of existing mortgage loans to noninstitutional investors for compensation
- Requires any solicitations or referrals to comply with Florida securities law (chapter 517), the federal Real Estate Settlement Procedures Act, and applicable federal and state law
- Takes effect July 1, 2018
Legislative Description
Mortgage Brokering
Last Action
Chapter No. 2018-44
3/22/2018
Committee Referrals
Regulated Industries2/1/2018
Commerce Committee11/16/2017
Insurance And Banking Subcommittee10/3/2017
Full Bill Text
No bill text available