What if a mortgage entity or loan originator is involved in a crime or administrative violation?
The citations for these laws F.S. 494.0067(5) are for mortgage lenders and 494.004(a) for mortgage broker and loan originators. The laws are very similar, but not exactly the same. A technical correction act will probably fix the difference so that the laws will match. The law applies to a loan originator, a mortgage broker, a mortgage lender or a control person of either mortgage entity. The person or entity shall report any indictment, information, charge, conviction or plea of guilty or nolo contendere, regardless of adjudication, to any felony, or any crime or administrative violation that involves fraud, dishonesty, breach of trust, money laundering or moral turpitude, in any jurisdictions within 30 days.
