Add-A-State@Mortgage License Mall
http://www.thomas-law.com

 presents
a free mortgage license newsletter VOL. III
containing recent developments of mortgage licenses in the 50 states
 This Edition features: Mortgage Broker/Lender News Headlines as of 7/15/99 ( click headline for explanation) for the following states:
Advantages of Add-A-State Services:
  •  Experience
  •  Speed
  •  Low Costs
  •  Prompt Responses to

State Agencies
  •  Reduced Risk of Rejection
  •  Professionalism
  •  Automation
  •  Integrity
  •  Discounts
   
FLORIDA
Effective October 1, 1999, Florida no longer has a requirement that a mortgage lender or mortagge broker must have a physical office in the state of Florida. This is very good news for Internet mortgage brokers and lenders who wish to expand their brokerage and lending territory at an affordable cost. TEXT OF ACT
 How Do I Get Started? Complete and Fax to 214-692-7613  Purchase Order then Overnight Mail Hardcopy of Purchase Order and Check for 30% of Purchase
TEXAS
Effective 9/1/99, the Texas legislature has passed the Texas Mortgage Broker License Act that requires mortgage brokers and mortgagelenders that are not FHA approved to be licensed by 1/1/2000 through the Texas Finance Commissioner and maintain a Texas physical office. TEXT OF ACT The TX Savings and Loan Commissioner will be handling the License approval process. Application Forms will not be available until the last week of August, 1999.

Order Total to Thomas Law Firm, P.C., 6116 N. Central Expressway, Suite 922, Dallas, TX 75206

Who Can I Talk To About My Purchase Order? Call Herb Thomas at 214-692-7611

MINNESOTA

 Where Can I Find More Information on Mortgage Broker and Mortgage Lender Licenses in the 50 States? @ Mortgage License Mall

 

FL Senate Bill 1326er

494.0067 Requirements of licensees under ss. 30 494.006-494.0077.- mortgage lender, correspondent mortgage lender
CODING: Words stricken are deletions; words underlined are additions. ENROLLED 1999 Legislature CS for SB 1326, 1st Engrossed

(1) Each license of a mortgage lender, correspondent mortgage lender, or branch office shall be prominently displayed in the office for which it is issued. (2) Each licensee under ss. 494.006-494.0077 which makes mortgage loans on real estate in this state shall transact business from a principal place of business STRIKEN [in the state]. Each principal place of business and each branch office shall be operated under the full charge, control, and supervision of the licensee under ss. 494.006-494.0077. Except as otherwise provided in this act, this act shall take effect October 1, 1999.

 
 
 

THOMAS LAW FIRM, P.C.
6116 NORTH CENTRAL EXPRESSWAY
SUITE 922, L.B.72
DALLAS, TEXAS 75206-5155
214.692.7611 (VOICE) OR 692-7613 (FAX)

Not Certified by the Texas Board of Legal Specialization but licensed to practice in all areas of the law