The Florida Senate

494.00295  Professional education.--

(1)  Each mortgage broker, mortgage lender, and correspondent mortgage lender must certify to the office at the time of renewal that during the 2 years prior to an application for license renewal, all mortgage brokers and the principal representative, loan originators, and associates of a mortgage lender or correspondent mortgage lender have successfully completed at least 14 hours of professional education programs covering primary and subordinate mortgage financing transactions and the provisions of this chapter. Licensees shall maintain records documenting compliance with this subsection for a period of 4 years.

(2)  Professional education programs must contribute directly to the professional competency of the participants, may only be offered by permitted mortgage business schools or entities specifically exempted from permitting as mortgage business schools, and may include electronically transmitted or distance education courses.

(3)  The commission shall adopt rules necessary to administer this section, including rules governing qualifying hours for professional education programs and standards for electronically transmitted or distance education courses, including course completion requirements.

History.--s. 2, ch. 2001-228; s. 526, ch. 2003-261.