Terms Used In Florida Statutes 494.00665

• Branch manager: means the licensed loan originator in charge of, and responsible for, the operation of the branch office of a mortgage broker or mortgage lender. See Florida Statutes 494.001
• Branch office: means a location, other than a mortgage broker's or mortgage lender's principal place of business or remote location:
  (a) The address of which appears on business cards, stationery, or advertising used by the licensee in connection with business conducted under this chapter;
  (b) At which the licensee's name, advertising or promotional materials, or signage suggests that mortgage loans are originated, negotiated, funded, or serviced; or
  (c) At which mortgage loans are originated, negotiated, funded, or serviced by a licensee. See Florida Statutes 494.001
• Commission: means the Financial Services Commission. See Florida Statutes 494.001
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Loan originator: means an individual who, directly or indirectly, solicits or offers to solicit a mortgage loan, accepts or offers to accept an application for a mortgage loan, negotiates or offers to negotiate the terms or conditions of a new or existing mortgage loan on behalf of a borrower or lender, or negotiates or offers to negotiate the sale of an existing mortgage loan to a noninstitutional investor for compensation or gain. See Florida Statutes 494.001
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage lender: means a person making a mortgage loan or servicing a mortgage loan for others, or, for compensation or gain, directly or indirectly, selling or offering to sell a mortgage loan to a noninstitutional investor. See Florida Statutes 494.001
• Office: means the Office of Financial Regulation. See Florida Statutes 494.001
• person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
• Principal loan originator: means the licensed loan originator in charge of, and responsible for, the operation of a mortgage lender or mortgage broker, including all of the activities of the mortgage lender's or mortgage broker's loan originators, in-house loan processors, and branch managers, whether employees or independent contractors. See Florida Statutes 494.001
• Ultimate equitable owner: means an individual who, directly or indirectly, owns or controls an ownership interest in a corporation, a foreign corporation, an alien business organization, or any other form of business organization, regardless of whether the individual owns or controls such interest through one or more individuals or one or more proxies, powers of attorney, nominees, corporations, associations, partnerships, trusts, joint stock companies, or other entities or devices, or any combination thereof. See Florida Statutes 494.001