If I like it, I clip it…

This is big for our Florida Friends!  Here’s a message from Florida Association of Mortgage Professionals President Richard Peek (thanks for passing this along to me Donnell Smith!):

In-House Loan Processor Bill Signed
by Governor Scott

June 1, 2011

Greetings Fellow Mortgage Professionals:

We have learned that the loan processor bill, SB1316, which was sponsored in the Florida Senate by Senator Nancy Detert and in the Florida House by Representative Ritch Workman has been signed by Governor Scott and will become effective on July 1^st, 2011.  This law removes the requirement for licensure as a mortgage loan originator for in-house processors.  It also addresses the requirement for lenders to complete the call reports mandated under the SAFE Act of 2008.

We want to thank Senator Detert and Representative Workman, both of whom are members of the Florida Association of Mortgage Professionals, for all of the effort they have put forth for Florida’s mortgage professionals.

We suggest that you read the bill to ensure that you are in compliance.  If you need assistance, please be sure to obtain competent advice.

We hope to see you at our annual convention and trade show in Orlando in July.  We will be offering all of the continuing education you will need to satisfy your licensure renewal requirements this year.  For information, please visit our Convention Page on our website at https://m360.famb.org/event.aspx?eventID=22711&instance=0 .

Sincerely,

Richard E. Peek, CRMS

President