HB 5049

1	A bill to be entitled
2	An act relating to mortgage broker's licenses; amending s.
3	494.0033, F.S.; revising requirements for mortgage broker
4	license tests; revising fee requirements; requiring
5	applicants to bear certain costs; providing limitations;
6	providing an effective date.
7
8	Be It Enacted by the Legislature of the State of Florida:
9
10	Section 1.  Paragraphs (b) and (c) of subsection (2) of
11	section 494.0033, Florida Statutes, are amended to read:
12	494.0033  Mortgage broker's license.--
13	(2)  Each initial application for a mortgage broker's
14	license must be in the form prescribed by rule of the
15	commission. The commission may require each applicant to provide
16	any information reasonably necessary to make a determination of
17	the applicant's eligibility for licensure. The office shall
18	issue an initial license to any natural person who:
19	(b)  Has passed a written test adopted and administered by
20	the office, or has passed an electronic test adopted and
21	administered by the office or a third party approved by the
22	office, which is designed to determine competency in primary and
23	subordinate mortgage financing transactions as well as to test
24	knowledge of ss. 494.001-494.0077 and the rules adopted pursuant
25	thereto. The office shall make available an electronic version
26	of the mortgage broker test no later than December 31, 2008.
27	Applicants shall bear the actual cost for the electronic version
28	of the mortgage broker test; however, the applicant's cost of
29	the test may not exceed $75. The commission may prescribe by
30	rule an additional fee that may not exceed $100 for the
31	electronic version of the mortgage broker test. The commission
32	may waive by rule the examination requirement for any person who
33	has passed a test approved by the Conference of State Bank
34	Supervisors, the American Association of Residential Mortgage
35	Regulators, or the United States Department of Housing and Urban
36	Development if the test covers primary and subordinate mortgage
37	financing transactions. The commission may adopt rules
38	prescribing an additional fee that may not exceed $50 for an
39	applicant to review his or her completed and graded mortgage
40	broker test. The commission may adopt rules regarding the
41	administration of the testing process, including, but not
42	limited to, procedures relating to pretest registration, test
43	security, scoring, content, result notification, retest
44	procedures and fees, postexamination review, and challenge
45	provisions. Any applicant who wishes to review his or her
46	completed and graded mortgage broker test shall bear only the
47	actual cost of the review; however, the applicant's cost of the
48	review may not exceed $35.
49	(c)  Has submitted a completed application and a
50	nonrefundable application fee of $195 $200. An application is
51	considered received for purposes of s. 120.60 upon receipt of a
52	completed application form as prescribed by commission rule, a
53	nonrefundable application fee of $195 $200, and any other fee
54	prescribed by law.
55
56	The commission may require by rule information concerning any
57	such applicant or person, including, but not limited to, his or
58	her full name and any other names by which he or she may have
59	been known, age, social security number, qualifications and
60	educational and business history, and disciplinary and criminal
61	history.
62	Section 2.  This act shall take effect July 1, 2008.

CODING: Words stricken are deletions; words underlined are additions.