{"data":{"id":"us-fl/fla.-stat.-494.00331","jurisdiction":"us-fl","citation":"Fla. Stat. § 494.00331","heading":"Loan originator and loan processor employment.","body":"(1) LOAN ORIGINATORS.—An individual may not act as a loan originator unless he or she is an employee of, or an independent contractor for, a mortgage broker or a mortgage lender, and may not be employed by or contract with more than one mortgage broker or mortgage lender, or either simultaneously.\n(2) CONTRACT LOAN PROCESSORS.—Subsection (1) does not apply to a contract loan processor who has a declaration of intent to act solely as a contract loan processor on file with the office. The declaration of intent must be on a form as prescribed by commission rule.\n(a) A loan originator may withdraw his or her declaration of intent. The withdrawal of declaration of intent must be on such form as prescribed by commission rule.\n(b) A declaration of intent or a withdrawal of declaration of intent is effective upon receipt by the office.\n(c) The fee earned by a contract loan processor may be paid to the company that employs the loan processor without violating the restriction in s. 494.0025(7) requiring fees or commissions to be paid to a licensed mortgage broker or mortgage lender or a person exempt from licensure under this chapter.\n(3) IN-HOUSE LOAN PROCESSORS.—An individual may not act as an in-house loan processor unless he or she is an employee of a mortgage broker or a mortgage lender and may not be employed by more than one mortgage broker or mortgage lender, or either, simultaneously. An in-house loan processor must work at the direction of and be subject to the supervision and instruction of a loan originator licensed under this part.\nHistory.—s. 11, ch. 95-313; s. 11, ch. 99-213; s. 30, ch. 2009-241; s. 2, ch. 2010-67; s. 39, ch. 2011-4; s. 5, ch. 2011-71.","path":["TITLE XXXIII REGULATION OF TRADE, COMMERCE, INVESTMENTS, AND SOLICITATIONS","CHAPTER 494 LOAN ORIGINATORS AND MORTGAGE BROKERS"],"source_url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute\u0026URL=0400-0499/0494/0494.html","current_through":"2026 Florida Statutes","vintage":"","retrieved_at":"2026-08-27T02:07:37Z","sha256":"2cb14ca7790e4009482880ad472a8e5728679cbac8af252e51d2e77031254edb","source_id":"us-fl","stale":false,"prev":"us-fl/fla.-stat.-494.00322","next":"us-fl/fla.-stat.-494.0035"},"notice":"GroundRules: Original legal text. Not legal advice."}