Skip to Content

Capitol Report 2011: Mortgage Brokers

Committee Substitute for Committee Substitute for Senate Bill 1316: Loan Processing

This bill includes the following provisions relating to mortgage loan originators whose scope of work includes loan processing:

  • Defines loan processing as it relates to mortgage lending.
  • Allows licensed loan originators to work as contract loan processors or in-house loan processors.
  • Authorizes the Nationwide Mortgage Licensing System and Registry to obtain independent credit reports on each of a mortgage lender’s control persons and share those reports with the Office of Financial Regulation.
  • Makes technical conforming changes to chapter 494, Florida Statutes, required by the federal Secure and Fair Enforcement Mortgage Licensing Act (SAFE) of 2008.
  • The bill also creates an exemption to allow real estate brokerage activities to be exempt from Parts II and III of Chapter 494.

This report was compiled in substantial part using public records data from the Florida Senate and the Florida House of Representatives. This bill substantially amends the following sections of the Florida Statutes: 494.001, 494.0011, 494.00255, 494.00331, 494.0038, 494.00421, 494.00612 and 494.0067.

Related Practices
Government Law & Consulting
©2024 Carlton Fields, P.A. Carlton Fields practices law in California through Carlton Fields, LLP. Carlton Fields publications should not be construed as legal advice on any specific facts or circumstances. The contents are intended for general information and educational purposes only, and should not be relied on as if it were advice about a particular fact situation. The distribution of this publication is not intended to create, and receipt of it does not constitute, an attorney-client relationship with Carlton Fields. This publication may not be quoted or referred to in any other publication or proceeding without the prior written consent of the firm, to be given or withheld at our discretion. To request reprint permission for any of our publications, please use our Contact Us form via the link below. The views set forth herein are the personal views of the author and do not necessarily reflect those of the firm. This site may contain hypertext links to information created and maintained by other entities. Carlton Fields does not control or guarantee the accuracy or completeness of this outside information, nor is the inclusion of a link to be intended as an endorsement of those outside sites.


The information on this website is presented as a service for our clients and Internet users and is not intended to be legal advice, nor should you consider it as such. Although we welcome your inquiries, please keep in mind that merely contacting us will not establish an attorney-client relationship between us. Consequently, you should not convey any confidential information to us until a formal attorney-client relationship has been established. Please remember that electronic correspondence on the internet is not secure and that you should not include sensitive or confidential information in messages. With that in mind, we look forward to hearing from you.