Florida Association of Mortgage Brokers (FAMB) is pleased to announce the expansion of the FAMB School to include the 24-Hour Pre-Licensure Course.

Since 2000 the FAMB Education Foundation has provided quality continuing education for license renewal  We are now pleased to introduce our pre-licensure education course.

With the expansion of curriculum to include the 24-Hour Classroom Pre-Licensure Course, our education now provides the new mortgage broker the required classroom hours to satisfy the requirement of f.s.494.0033 (Click here for text of 494.0033).  The course prepares all new applicants for testing as required by the law while providing participants with a full understanding of the mortgage process from application through closing.  Our 650-page manual will serve as a reference source that will be used often once licensed.

Our extensive CE curriculum will help train a new mortgage broker and expand the knowledge of even the most seasoned broker.  Our continuing education curriculum includes law courses as well as training on various loan products.  The compliance classes we offer keep the business owner and their staff knowledgeable and up to date with laws such as Chapter 494, f.s., RESPA, TILA and more.  Classes are held throughout Florida monthly at various locations scheduled by FAMB’s 14 local chapters.  Members’ cost is $12 for course materials.  Non-members pay $20 per credit hour.

For a full list of our courses and a full description of the 24-Hour Pre-Licensure Course, click here.

Mortgage Broker License Requirements:

            Summary:     *Must be at least 18 years of age, a high school diploma or equivalent
                                    *Complete 24 hours of classroom education by a licensed school
                                    *Submit form DBF-MB-101, fingerprint card and fee
                                    *Pass State Exam—Electronic Exam NOW available

            Detailed Information as described by f.s. 494:0033  (click here)

Mortgage Broker License Application:

To apply online, click here, www.flofr.com/Finance/MB-Individuals.htm
Or Call 1-850-410-9895

Course Pricing:

*  If you wish to receive the manual prior to the course date, the shipping cost will be $10.  (Allow 5 days to receive.)  If not, FAMB will e-mail a copy of the required pre-class study material.  (Glossary and FNMA guidelines.)

 Regarding your First License Renewal and Continuing Education:

FS 494 requires that you complete 14 hours of continuing education for your license renewal if you completed your prelicensure education 90 or more days before the license expiration date of 8/31/2009.  FAMB Members receive free continuing education as a member benefit.  All a member pays is $12 for the course materials.

                                                  494.00295 Professional continuing education.—

(1)  Mortgage brokers, and the principal representatives and loan originators of a mortgage lender, correspondent mortgage lender, or mortgage lender pursuant to s. 494.0065, must successfully complete at least 14 hours of professional continuing education covering primary and subordinate mortgage financing transactions and the provisions of this chapter during the 2-year period immediately preceding the renewal deadline for a mortgage broker, mortgage lender, correspondent mortgage lender, or mortgage lender pursuant to s. 494.0065. A minimum of 4 hours shall cover the provisions of this chapter and the rules adopted under this chapter. At the time of license renewal, a licensee must certify to the office that the professional continuing education requirements of this section have been met. Licensees shall maintain records documenting compliance with this subsection for a period of 4 years. The requirements for professional continuing education are waived for the license renewal of a mortgage broker who has completed the 24-hour prelicensing classroom education requirement of s. 494.0033(3) within 90 days of the biennial license period immediately following the period in which the person became licensed as a mortgage broker. The requirements for professional continuing education for a principal representative are waived for the license renewal of a mortgage lender, correspondent mortgage lender, or mortgage lender pursuant to s. 494.0065 for the biennial license period immediately following the period in which the principal representative completed the 24 hours of classroom education and passed a written test in order to qualify to be a principal representative.