Florida Requirements

State requirements can be found at the Florida State Department of Licensing and Registration web site.

Click on the link above for current information.

Electronic Testing

Beginning January 5, 2009, the Office of Financial Regulation will be outsourcing the Mortgage Broker exam to Pearson Vue (Promissor recently merged with Pearson Vue). 

All Mortgage Broker licensee applicants eligible for the January exam, and all exams going forward, will be transmitted nightly to Pearson Vue via an electronic list.  Pearson Vue will then send a mailing to the applicant with instructions on how to set up an appointment with them for the exam.  The exam will be conducted at Pearson Vue’s testing centers via computer.  Applicants will have their grade available upon completion of the exam. 

The application fee is now $195.

The licensing fee amount is found at 494.0033(2)(c) FS.  The updated 2008 statutes can be found at:
http://www.leg.state.fl.us/Statutes/index.cfm?App_
mode=Display_Statute&Search_String=&URL=Ch0494/SEC0033.
HTM&Title=->2008->Ch0494->Section%200033#0494.0033

494.0033  Mortgage broker's license.--

  1. Each natural person who acts as a mortgage broker for a mortgage brokerage business or acts as an associate for a mortgage lender or correspondent mortgage lender must be licensed under this section. To act as a mortgage broker, an individual must be an associate of a mortgage brokerage business, a mortgage lender, or a correspondent mortgage lender. A mortgage broker may not be an associate of more than one mortgage brokerage business, mortgage lender, or correspondent mortgage lender.

  2. Each initial application for a mortgage broker's license must be in the form prescribed by rule of the commission. The commission may require each applicant to provide any information reasonably necessary to make a determination of the applicant's eligibility for licensure.  The office shall issue an initial license to any natural person who:

    1. Is at least 18 years of age and has a high school diploma or its equivalent.

    2. Has passed a written test adopted and administered by the office, or has passed an electronic test adopted and administered by the office or a third party approved by the office, which is designed to determine competency in primary and subordinate mortgage financing transactions as well as to test knowledge of ss. 494.001-494.0077 and the rules adopted pursuant thereto. The office shall make available an electronic version of the mortgage broker test no later than December 31, 2008. Applicants shall bear the actual cost for the electronic version of the mortgage broker test; however, the applicant's cost of the test may not exceed $75. The commission may waive by rule the examination requirement for any person who has passed a test approved by the Conference of State Bank Supervisors, the American Association of Residential Mortgage Regulators, or the United States Department of Housing and Urban Development if the test covers primary and subordinate mortgage financing transactions. The commission may adopt rules regarding the administration of the testing process, including, but not limited to, procedures relating to pretest registration, test security, scoring, content, result notification, retest procedures and fees, post examination review, and challenge provisions. Any applicant who wishes to review his or her completed and graded mortgage broker test shall bear only the actual cost of the review; however, the applicant's cost of the review may not exceed $35.

    3. Has submitted a completed application and a nonrefundable application fee of $195. An application is considered received for purposes of s. 120.60 upon receipt of a completed application form as prescribed by commission rule, a nonrefundable application fee of $195, and any other fee prescribed by law.