Add-A-State@Mortgage License
Mall http://www.thomas-law.com
a free mortgage license newsletter VOL. III
containing recent developments of mortgage licenses in the 50 states
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Effective October 1, 1999, Florida no longer has a requirement that a mortgage lender or mortagge broker must have a physical office in the state of Florida. This is very good news for Internet mortgage brokers and lenders who wish to expand their brokerage and lending territory at an affordable cost. TEXT OF ACT
Effective 9/1/99, the Texas legislature has passed the Texas Mortgage Broker License Act that requires mortgage brokers and mortgagelenders that are not FHA approved to be licensed by 1/1/2000 through the Texas Finance Commissioner and maintain a Texas physical office. TEXT OF ACT The TX Savings and Loan Commissioner will be handling the License approval process. Application Forms will not be available until the last week of August, 1999.
Order Total to Thomas Law Firm, P.C., 6116 N. Central Expressway, Suite 922, Dallas, TX 75206
Who Can I Talk To About My Purchase Order? Call Herb Thomas at 214-692-7611
- MINNESOTA: Residential Mortgage Originator or Servicer Licensing Act
- Minnesota Statutes, Chapter 58 (the Act) ) Beginning August 1, 1999, no person shall act as a residential mortgage originator, or make residential mortgage loans without first obtaining a license from the commissioner according to the licensing procedures provided in this chapter.
- How to Contact
the Division of Financial Institutions
Call the division at (651)296-2135.
Mailing Address
Minnesota Department of Commerce
Division of Financial Examinations
133 East Seventh St.
St. Paul, MN 55101
Contact us by E-Mail
Where Can I Find More Information on Mortgage Broker and Mortgage Lender Licenses in the 50 States? @ Mortgage License Mall
- Forms found at http://www.commerce.state.mn.us/Forms/residentialmortgagor.htm
- Contact Robin Brown at 651-282-9855 if there are questions.
- "Residential mortgage originator" means a person who, directly or indirectly, for compensation or gain or in expectation of compensation or gain, solicits or offers to solicit, or accepts or offers to accept an application for a residential mortgage loan through any medium or mode of communication from a borrower, or makes a residential mortgage loan. "Residential mortgage originator" includes a lender as defined in subdivision 11 and a broker as defined in subdivision 13
494.0067 Requirements of licensees under ss. 30 494.006-494.0077.-
mortgage lender, correspondent mortgage lender
CODING: Words stricken are deletions; words underlined
are additions. ENROLLED 1999 Legislature CS for SB 1326, 1st
Engrossed
(1) Each license of a mortgage lender, correspondent mortgage lender, or branch office shall be prominently displayed in the office for which it is issued. (2) Each licensee under ss. 494.006-494.0077 which makes mortgage loans on real estate in this state shall transact business from a principal place of business STRIKEN [in the state]. Each principal place of business and each branch office shall be operated under the full charge, control, and supervision of the licensee under ss. 494.006-494.0077. Except as otherwise provided in this act, this act shall take effect October 1, 1999.
6116 NORTH CENTRAL EXPRESSWAY
SUITE 922, L.B.72
DALLAS, TEXAS 75206-5155
214.692.7611 (VOICE) OR 692-7613 (FAX)
