The 2023 Florida Statutes (including Special Session C)

Title XXXIII
REGULATION OF TRADE, COMMERCE, INVESTMENTS, AND SOLICITATIONS

Chapter 494
LOAN ORIGINATORS AND MORTGAGE BROKERS

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F.S. 494.0025

494.0025 Prohibited practices.—It is unlawful for any person:

(1) To act as a loan originator in this state without a current, active license issued by the office pursuant to part II of this chapter.

(2) To act as a mortgage broker in this state without a current, active license issued by the office pursuant to part II of this chapter.

(3) To act as a mortgage lender in this state without a current, active license issued by the office pursuant to part III of this chapter.

(4) In any practice or transaction or course of business relating to the sale, purchase, negotiation, promotion, advertisement, or hypothecation of mortgage loan transactions, directly or indirectly:

(a) To knowingly or willingly employ any device, scheme, or artifice to defraud;

(b) To engage in any transaction, practice, or course of business which operates as a fraud upon any person in connection with the purchase or sale of any mortgage loan;

(d) To misrepresent a residential mortgage loan, as described in s. 494.001(25)(a), as a business purpose loan.

(5) In any matter within the jurisdiction of the office, to knowingly and willfully falsify, conceal, or cover up by a trick, scheme, or device a material fact, make any false or fraudulent statement or representation, or make or use any false writing or document, knowing the same to contain any false or fraudulent statement or entry.

(6) To violate s. 655.922(2), subject to this chapter.

(7) To pay a fee or commission in any mortgage loan transaction to any person or entity other than a licensed mortgage broker or mortgage lender, or a person exempt from licensure under this chapter.

(8) To record a mortgage broker agreement or any other document, not rendered by a court of competent jurisdiction, which purports to enforce the terms of the agreement.

(9) To use the name or logo of a financial institution, as defined in s. 655.005(1), or its affiliates or subsidiaries when marketing or soliciting existing or prospective customers if such marketing materials are used without the written consent of the financial institution and in a manner that would lead a reasonable person to believe that the material or solicitation originated from, was endorsed by, or is related to or the responsibility of the financial institution or its affiliates or subsidiaries.

(10) Subject to investigation or examination under this chapter, to knowingly alter, withhold, conceal, or destroy any books, records, computer records, or other information relating to a person’s activities which subject the person to the jurisdiction of this chapter.

History.—ss. 16, 50, ch. 91-245; s. 4, ch. 91-429; s. 4, ch. 95-313; s. 7, ch. 99-213; s. 523, ch. 2003-261; s. 1, ch. 2004-340; s. 84, ch. 2004-390; s. 14, ch. 2009-241; s. 3, ch. 2018-61.

F.S. 494.0025 on Google Scholar

F.S. 494.0025 on Casetext

Amendments to 494.0025

Arrestable Offenses / Crimes under Fla. Stat. 494.0025

Level: Degree
Misdemeanor/Felony: First/Second/Third

S494.0025 1 - CRIMES AGAINST PERSON - RENUMBERED. SEE REC #7125 - F: F

S494.0025 1 - PUBLIC ORDER CRIMES - RENUMBERED. SEE REC #7124 - F: T

S494.0025 1 - FRAUD - ACT AS LOAN ORIGINATOR WO LICENSE - F: T

S494.0025 1 - FRAUD - LOAN ORIGINATOR WO LIC OVER 50K DOLS 5 VICTIMS - F: F

S494.0025 2 - CRIMES AGAINST PERSON - RENUMBERED. SEE REC #7127 - F: F

S494.0025 2 - PUBLIC ORDER CRIMES - RENUMBERED. SEE REC #7126 - F: T

S494.0025 2 - FRAUD - ACT AS MORTGAGE BROKER WO LICENSE - F: T

S494.0025 2 - FRAUD - MORTG BROKER WO LIC OVER 50K DOLS 5 VICTIMS - F: F

S494.0025 3 - CRIMES AGAINST PERSON - RENUMBERED. SEE REC #7129 - F: F

S494.0025 3 - PUBLIC ORDER CRIMES - RENUMBERED. SEE REC #7128 - F: T

S494.0025 3 - FRAUD - ACT AS MORTGAGE LENDER WO LICENSE - F: T

S494.0025 3 - FRAUD - MORTG LENDER WO LIC OVER 50K DOLS 5 VICTIMS - F: F

S494.0025 4a - FRAUD - USE DEVICE SCHEME DEFRAUD OVER 50K DOLS 5 VICT - F: F

S494.0025 4a - FRAUD - USE DEVICE SCHEME TO DEFRAUD - F: T

S494.0025 4b - FRAUD - PURCHASE SALE MTG LOAN OVER 50K DOLS 5 VICTIMS - F: F

S494.0025 4b - FRAUD - PURCHASE OR SALE OF MORTGAGE LOAN - F: T

S494.0025 4c - FRAUD - OBTAIN PROPERTY FRAUD OVER 50K DOLS 5 VICTIMS - F: F

S494.0025 4c - FRAUD - OBTAIN PROPERTY BY FRAUD - F: T

S494.0025 4d - FRAUD - MISREP RESIDEN MORT LOAN AS BUSINESS PURP LOAN - F: T

S494.0025 5 - FRAUD - MATERIAL FACT DOCUMENT OVER 50K DOLS 5 VICTIMS - F: F

S494.0025 5 - FRAUD - FALSIFY MATERIAL FACT OR DOCUMENT - F: T

Annotations, Discussions, Cases:

Cases from cite.case.law:

PAZMINO v. GONZALEZ,, 273 So. 3d 1056 (Fla. App. Ct. 2019)

. . . was a licensed real estate broker or realtor, engaged in "prohibited practices" as defined in section 494.0025 . . .

OWENS- BENNIEFIELD, v. NATIONSTAR MORTGAGE LLC,, 258 F. Supp. 3d 1300 (M.D. Fla. 2017)

. . . Count 9 alleges Nationstar violated section 494.0025(4)-(5), Fla. . . . Section 494.0025, in relevant part, makes it unlawful for any person: (4) In any pra'ctice or transaction . . . Stat. § 494.0025(4)-(5). Nationstar argues' there is no private right of action under this section. . . . Although section 494.0025. includes no language about its enforcement, section 494.0019(1) provides: . . . that Owens-Benniefield’s factual allegations fail to state a plausible claim for violation of section 494.0025 . . .

BANK OF AMERICA, N. A. v. A. NASH,, 200 So. 3d 131 (Fla. Dist. Ct. App. 2016)

. . . for any person to act as a mortgage lender in Florida without a current active license, see section 494.0025 . . .

AGATE v. E. CLAMPITT,, 80 So. 3d 450 (Fla. Dist. Ct. App. 2012)

. . . trial court erred in applying the Statute of Frauds to count three that asserted a violation of section 494.0025 . . . Section 494.0025 bars a person from acting as a mortgage broker or lender without holding a state license . . .

A. LINVILLE II, v. GINN REAL ESTATE COMPANY, LLC,, 697 F. Supp. 2d 1302 (M.D. Fla. 2010)

. . . of Florida’s mortgage lending laws, specifically, Florida Statute § 494.0025(4). . . . Stat. § 494.0025(4). . . . Stat. § 494.0025(4). . . . Stat. § 494.0025(4) is DENIED. B. . . . Stat. § 494.0025(4) (Dkt. 70), is DENIED. . . .

EQUITY CORP. HOLDINGS, INC. a a A. v. DEPARTMENT OF BANKING AND FINANCE, DIVISION OF FINANCE,, 772 So. 2d 588 (Fla. Dist. Ct. App. 2000)

. . . We must reject this interpretation of sections 494.001(20) and 494.0025(1), Florida Statutes (1997), . . . See § 494.0025(1), Fla. . . .

G. MOGAVERO, Jr. v. STATE, 744 So. 2d 1048 (Fla. Dist. Ct. App. 1999)

. . . See §§ 494.0018, 494.0025(3), 687.141(1), Fla. Stat. (1997). . . . Reading sections 494.0018(1) and 494.0025(3) together, the crime charged was “knowingly” acting as a . . .