More than 30,000 Florida mortgage professionals appear to be missing in action.
According to the Florida Office of Financial Regulation, with only a month left to submit applications for the state's new loan officer license, only 10,000 or so of the 43,000 originators who have the old license have done so.
Under the Secure and Fair Enforcement for Mortgage Licensing Act, all current licensees must apply for a new certificate via the new Nationwide Mortgage Licensing System. The state sent out a reminder advising loan officers that if their applications are not certified as received by Dec. 31, they cannot legally continue to work in the field. And they will be unable to work until a new license is approved.
