Florida Administrative Code

Loans shall be made repayable in equal monthly installments, including both principal and interest, with interest charges calculated on the assumption that all scheduled payments will be made when due. Provided, however, if the repayment schedule is otherwise than regular, the fi…

Should a licensee charge, contract for, or receive interest or charges in excess of those permitted, and such overcharge is a result of a bona fide error, the loan contract shall remain valid and no penalty shall result, provided that the licensee shall refund or credit the borro…

Rulemaking Authority 20.05(5), 516.22(1) FS. Law Implemented 516.05(2)(a), 516.07(1)(c), 516.12(1)(2) FS. History-New 10-20-73, Formerly 3-2.24, 3D-160.24, Amended 9-1-75, Formerly 3D-160.24, 3D-160.024, Repealed 12-20-07.

(1) Coverage. When, at the written request of the borrower, the licensee places insurance to protect household goods and appliances used as collateral for a loan, the policy shall include coverage against the perils of fire and broad-form extended coverage. At the option of the b…

The duty of a licensee to give to the borrower a plain and complete receipt for all payments made on account of any loan at the time payments are made pursuant to Section 516.15(2), F.S., is discharged when payments are through mail by check or money order by furnishing the borro…

The records required by Section 516.12, F.S., shall be kept in accordance with sound and accepted accounting practices, but no particular form is required for keeping the records. In addition to the general records, a licensee shall maintain a log of all insurance claims, reposse…

A licensee may, at the same licensed business location, utilize a separate legal entity, which is not licensed under Chapter 516, F.S., to engage in the business of making loans of money, credit, goods or chooses in action in amounts in excess of $25,000.00; however, all the book…

(1) Each person desiring to apply for a license for the principal place of business of a consumer finance company shall submit the following to the Office of Financial Regulation: (a) A completed Application for Consumer Finance Company License, Form OFR-516-01, which is incorpor…

(1) A consumer finance company that intends to conduct business from a branch shall submit the following: (a) A completed Application for Consumer Finance Company Branch License, Form OFR-516-06, which is incorporated by reference in Rule 69V-160.039, F.A.C.; and, (b) The statuto…

(1) Each active consumer finance company license for the principal place of business and each branch will be renewed for the biennial period beginning January 1 of every odd-numbered year, upon submission of the statutory renewal fee, and submission of the Consumer Finance Compan…

(1) Each person licensed under Chapter 516, F.S., that proposes to change its name, form of business organization, or any other information contained in any initial application form or any amendment thereto, must file an amendment pursuant to Section 516.05, F.S., not later than …

As used in Section 516.07(1)(c), F.S., failure to demonstrate "financial responsibility" means having a history that reflects any of the following: unpaid liens, judgments, repossessions, foreclosures or an otherwise general history of non-payment of legal debts, or having filed …

As used in Section 516.07(1)(c), F.S., failure to demonstrate "character" or "general fitness" means being convicted or found guilty, regardless of adjudication, of any crime involving fraud, dishonest dealing or any other act of moral turpitude. Moral turpitude involves duties o…

(1) For purposes of this rule, "REAL System" means the Office of Financial Regulation's Regulatory Enforcement and Licensing System, which is accessible through the Office of Financial Regulation's website at www.flofr.gov. (2) All forms required to be filed with the Office of Fi…

(1) A consumer finance company licensee must at all times maintain liquid assets in the amount of $25,000, on deposit with the institution and held solely for the purpose of licensure. In lieu of liquid assets, one of the following alternative collateral devices may be maintained…

(1) The following forms are incorporated by reference and adopted by this rule for the purposes of Rules 69V-160.001-.111, F.A.C.: (a) Application for Consumer Finance Company License, Form OFR-516-01, effective 02-2023, and available at http://www.flrules.org/Gateway/reference.a…

(1) In accordance with Section 516.38, F.S., by March 15, 2025, and each March 15 thereafter, each consumer finance company shall submit a complete and accurate annual report to the Office by filing Form OFR-516-07, Consumer Finance Company Annual Report, electronically through t…

(1) Pursuant to Section 516.07, F.S., Disciplinary Guidelines for Consumer Finance Companies, Form OFR-516-04, which is hereby incorporated by reference, effective 03/2025, available on the Office's website at www.flofr.gov and available at http://www.flrules.org/Gateway/referenc…

(1) The forms referred to in this section are incorporated by reference and adopted by this rule. Forms adopted by this rule are available on the Office's website at www.flofr.gov, and by mail from the Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 3…

(1) Any person acting as a commercial collection agency must obtain and maintain a surety bond in the amount of $50,000 issued by a surety company admitted to do business in this state. To comply with this rule the commercial collection agency shall utilize Form-OFR-COM-103, Stat…

(1) Each person registering as a commercial collection agency shall submit the following to the Office of Financial Regulation: (a) A completed Registration of Commercial Collection Agency form, Form OFR-COM-101, effective 9/9/2015, which is hereby incorporated by reference and a…

(1) Each person registering as a consumer collection agency shall submit the following to the Office of Financial Regulation: (a) A completed Application for Registration as Consumer Collection Agency form, Form OFR-559-101, effective 9/9/2015, which is hereby incorporated by ref…

(1) For purposes of this rule, "REAL System" means the Office of Financial Regulation's Regulatory Enforcement and Licensing System, which is accessible through the Office's website at www.flofr.gov. (2) The registration form adopted under subparagraph 69V-180.002(1)(b)1., F.A.C.…

(1) Definitions. For purposes of this rule: (a) "Control person" has the same meaning as provided in Section 559.55(4), F.S. (a) "Trigger date" means the date on which a control person was found guilty, or pled guilty, or pled nolo contendere to a crime. (2) General Procedure Reg…

Each consumer desiring to file a complaint against a consumer collection agency shall submit to the Office of Financial Regulation a completed Florida Consumer Collection Practices Act Complaint form, Form OFR-559-102, effective 09-09-2015, which is hereby incorporated by referen…

Rulemaking Authority 17.29 FS. Law Implemented 559.553(2), 559.555(3) FS. History-New 1-1-95, Amended 2-5-01, Formerly 3D-180.050, Repealed 7-1-12.

Rulemaking Authority 17.29 FS. Law Implemented 559.544(2), 559.545 FS. History-New 1-1-95, Amended 2-5-01, Formerly 3D-180.060, Repealed 7-1-12.

(1) Consumer Collection Agency registrations must be renewed in accordance with the provisions of Section 559.555, F.S. (2) Renewal requirements for registrations expiring on December 31, 2015 and thereafter: (a) Registrants shall submit a non-refundable renewal fee equal to the …

A registrant shall, at a minimum, maintain all records specified in this rule. Records shall be kept current to within one week of the current date. Computerized records that contain the equivalent of the information required to be maintained by this rule are acceptable. The foll…

(1) All books, accounts, records, documents, and receipts must be maintained for at least 3 years from the date the consumer satisfied the debt being collected or the registrant has ceased collection efforts from the consumer. (2) A registrant must have written policies and proce…

(1) Pursuant to Section 559.730(7), F.S., guidelines applicable to each ground for disciplinary action that may be imposed by the Office against a person for a violation of Part VI, Chapter 559, F.S. are hereby adopted. The disciplinary guidelines are contained in "Office of Fina…

Rulemaking Authority 494.0011(2) FS. Law Implemented 494.00115(2)(e), (f), 494.0043 FS. History-Revised 9-23-65, Formerly 3-3.01, 3D-40.01, Formerly 3D-40.01, Amended 12-7-89, 6-23-91, 8-24-92, 2-11-93, 11-17-93, 4-14-94, 9-7-94, 5-14-95, 7-25-96, 12-12-99, 12-8-02, Formerly 3D-4…

"Material Benefit" as used in Section 494.00296, F.S., is a beneficial change in the current mortgage rates or terms where one or more of the following occurred: (1) Reduction in Principal Amount of the loan by 10% or more; (2) Permanent reduction in the annual interest rate of a…

(1) General Procedure Regarding Law Enforcement Records. For the purposes of this rule each loan originator applicant and each control person of a mortgage broker and mortgage lender license applicant shall be referred to collectively as "relevant persons." If the mortgage broker…

(1) The forms referred to in this section below are incorporated by reference and readopted by this rule for the purposes of Rules 69V-40.001-.285, F.A.C.: (a) Registry Forms: 1. NMLS Company Form (Form MU1), Version 13.0, dated and effective February 1, 2024, available at www.fl…

(1) All forms adopted under paragraph 69V-40.002(1)(a), F.A.C., must be electronically filed through the Registry. (2) Unless otherwise specifically instructed in this rule chapter all fees required in conjunction with an initial application, amendment, and license renewal must b…

(1) In order to renew an active mortgage lender branch office license a licensee must complete the following requirements no later than December 31 of each calendar year in which the licensee wishes to renew the license: (a) Submit a total payment of $225 paid through the Registr…

(1) The total fee shall not exceed the maximum as prescribed in Section 494.0042(2), F.S. (2)(a) In determining the total loan origination fee, all compensation for the following services, by whatever name called, shall be included: 1. Arranging for a conditional mortgage loan co…

The taking and recording of a mortgage is tantamount to a commitment, and when funds are not available for immediate disbursement to the mortgagor, such procedure will be considered a misleading and deceptive practice, and to warrant suspension or revocation of the license of the…

(1) Definitions. As used in this rule, the term: (a) "Adverse credit history information" means the following: 1. Personal bankruptcy within the previous year. 2. Bankruptcy within the previous year of any organization based on events that occurred while the relevant person was a…

Rulemaking Authority 494.0011(2) FS. Law Implemented 494.0017 FS. History-New 6-23-91, Amended 11-17-93, 7-25-96, Formerly 3D-40.015, Repealed 3-23-08.

Rulemaking Authority 494.0011(2) FS. Law Implemented 494.0031, 494.0032, 494.0033, 494.0034, 494.0036, 494.0039, 494.0061, 494.0062, 494.0064, 494.0065, 494.0066, 494.0067 FS. History-New 10-1-91, Amended 8-24-93, 7-25-96, 12-12-99, Formerly 3D-40.020, Repealed 3-23-08.

Rulemaking Authority 494.0011(2) FS. Law Implemented 494.0029(2)(e), 494.0041(2)(q), 494.0072(2)(q) FS. History-New 8-7-97, Formerly 3D-40.021, Amended 3-23-08, Repealed 10-1-10.

Rulemaking Authority 494.0011(2), 494.004(7), 494.0067(9) FS. Law Implemented 494.0011(2), 494.004(7), 494.0067(9) FS. History-New 11-7-00, Formerly 3D-40.022, Amended 3-23-08, Repealed 10-1-10.

Rulemaking Authority 494.0011(2) FS. Law Implemented 494.0033(2)(b) FS. History-New 10-1-91, Amended 6-8-92, Formerly 3D-40.025, Amended 3-23-08, 10-21-08, 3-4-09, Repealed 10-1-10.

Rulemaking Authority 494.0011(2), 494.0033(3) FS. Law Implemented 494.0033 FS. History-New 7-2-92, Amended 5-19-96, 12-9-01, Formerly 3D-40.026, Repealed 10-1-10.

Rulemaking Authority 494.0011(2), 494.0016 FS. Law Implemented 494.0016, 494.00295, 494.0033 FS. History-New 7-5-92, Amended 11-5-95, 11-24-97, 8-22-99, 12-9-01, Formerly 3D-40.027, Amended 3-23-08, Repealed 10-1-10.

Rulemaking Authority 494.0011(2), 494.00295(4) FS. Law Implemented 494.0016, 494.0029, 494.00295, 494.0034, 494.0064, 494.0067 FS. History-New 12-9-01, Formerly 3D-40.0271, Amended 3-23-08, Repealed 10-1-10.

Rulemaking Authority 494.0011(2), 494.0029(1), (3) FS. Law Implemented 120.60(1), 494.0029 FS. History-New 11-5-95, Amended 8-22-99, 12-9-01, Formerly 3D-40.028, Amended 3-23-08, Repealed 10-1-10.

Rulemaking Authority 494.0011(2) FS. Law Implemented 494.0025, 494.0029, 494.00295 FS. History-New 8-14-97, Amended 12-9-01, Formerly 3D-40.0281, Amended 3-23-08, Repealed 10-1-10.