Florida Real Estate Agents Required To Be Licensed As Loan Originators?!

By
Services for Real Estate Pros with Seller Helps Buyer

Has anyone seen the text on SB 2226?  Loan originators must be licensed in Florida which I agree with; however, here's the definition of 'loan originator':

"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, processes a mortgage loan application, or negotiates or offers to negotiate the sale of an existing mortgage loan to a noninstitutional investor for compensation or gain." 

Basically, anyone who is negotiang Florida short sales must be licensed as a 'loan originator' and that would include real estate agents as of this date because there is no exemption or at least none that I could see.  I wonder if this is gonna sneak through unchallenged...??

C'est la Vie.

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