The Florida Senate

494.00311  Mortgage brokerage schools.--

(1)  Each person, school, or institution, except accredited colleges, universities, community colleges, and ¹area technical centers in this state, which offers or conducts mortgage brokerage training as a condition precedent to licensure as a mortgage broker shall obtain a permit from the department and abide by the regulations imposed upon such person, school, or institution by this chapter and rules adopted pursuant to this chapter. The department shall, by rule, recertify mortgage brokerage school permits on an annual basis with initial and renewal permit fees which shall not exceed $500 plus the cost of accreditation.

(2)  All such mortgage brokerage schools shall maintain curriculum and training materials necessary to determine the mortgage brokerage school's compliance with this chapter and rules adopted pursuant to this chapter. Any school which offers or conducts mortgage brokerage training shall at all times maintain an operation of training, materials, and curriculum which is open to review by the department to determine compliance and competency as a mortgage brokerage school.

(3)(a)  It is unlawful for any such person, school, or institution to offer or conduct mortgage brokerage courses, regardless of the number of pupils, without first procuring a permit or to guarantee that the pupils will pass any mortgage brokerage examination given on behalf of the department or to represent that the issuance of a permit is any recommendation or endorsement of the person, school, or institution to which it is issued or of any course of instruction given thereunder. Any person who violates this paragraph commits a misdemeanor of the second degree, punishable as provided in s. 775.082 or s. 775.083.

(b)  The location of classes and the frequency of class meetings shall be in the discretion of the school offering mortgage brokerage courses, provided such courses conform to this chapter and related rules adopted by the department.

(c)  A mortgage brokerage school shall not use advertising of any nature which is false, inaccurate, misleading, or exaggerated. Publicity and advertising of a mortgage brokerage school, or of its representative, shall be based upon relevant facts and supported by evidence establishing their truth.

(d)  No representative of any mortgage brokerage school subject to the provisions of this chapter shall promise or guarantee employment or placement of any pupil or prospective pupil, using information, training, or skill purported to be provided or otherwise enhanced by a course or school as inducement to enroll in the school, unless such person offers the pupil or prospective pupil a bona fide contract of employment.

(e)  A school shall advertise only as a school and under the permitted name of such school as recognized by the department.

(f)  No reference may be made in any publication or communication medium as to a pass/fail ratio on mortgage brokerage examinations by any school permitted by the department.

History.--s. 9, ch. 95-313.

¹Note.--The term "area technical center" was substituted for the term "area vocational-technical center" by the editors pursuant to the directive of the Legislature in s. 16, ch. 94-232.