Florida Foreclosure Laws: Is Your Mortgage Broker Licensed?

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The above video illustrates why homeowners need to watch out for lenders that violate foreclosure and lending laws in the State of Florida. This is a problem that can even go beyond banks and other lenders. As Orlando foreclosure attorneys, we have seen dishonest mortgage brokers cause big problems for homeowners too.

One of the most important things that you need to check before you start working with a mortgage broker or give them any money is whether or not they are actually licensed to provide services in Florida.

Speak with an experienced Florida attorney at our firm today.
Call 855-Kramer-Now (855-572-6376)

Foreclosure Laws: Steps to Ensure Your Mortgage Broker Is Licensed

Checking a mortgage broker’s license in Florida is straightforward – you just have to know how to do it. Here are steps you can take to verify a mortgage broker’s license in our state.

  1. Go to Florida’s OFR website. This is the Florida Office of Financial Regulation, the state agency that regulates Florida’s financial services industry and responds to complaints about state chartered banks and financial services providers licensed in the State of Florida. The website allows you to look up licenses for mortgage brokers. If you cannot get online, you can also call (850) 487-9687 or (800) 848-3792. Florida foreclosure statutes stipulate that this information has to be available to the public.
  2. Click on “Verify a License.” This is the fourth option in the red toolbar in the middle of the screen.
  3. Open the license search tool. You’ll see a bullet-pointed list that includes “Loan Originators, Brokers and Lenders.” Click “here” above this and you will open the license search tool.
  4. Type in your broker’s information. The tool allows you to search by first and last name, business name, license number, and even city and state. After you hit search, a list of brokers should come up. Find your broker.
  5. Check the license status. There are a number of status options you might see, including Approved, Denied, Revoked, Terminated, or Expired.
  6. Look at the details. Status is one thing, but the details are also important. Check the details and you might see that their license only expired last week (maybe they simply need to renew) or that it is going to expire in a week. Regardless, this is information to bring to the broker’s attention and see what they say.

Florida’s Foreclosure Laws Affect How Mortgage Brokers Advise Clients

Do not wait until you have to look for a foreclosure defense attorney to make sure your broker and lender are legitimate. Check the details upfront so you know that you – and they – are following Florida foreclosure and lending laws.

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