Florida Deadline Approaching

The deadline for existing licensees in Florida to successfully submit an MU4 filing and be in a “Pending – Review” status is December 31. The chart below shows the percentage of existing licensees that have satisfied each of the SAFE Act requirements. See the Florida Mortgage Loan Originator New Application Checklist for the requirements to be placed in a “Pending – Review” status.

18% of MLOs Hold More Than One License

While most MLOs hold a single state license, over 13,000 of the MLOs in NMLS hold licenses in more than one state. For SAFE compliance, this means checking with deadlines and requirements in each state to be sure that state testing and, in some cases, state-specific education is completed. The average ratio is 1.6 state licenses per MLO.