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A small reprieve was offered to Florida mortgage professionals by the ""Florida Office of Financial Regulation"":http://www.flofr.com/index.htm (OFR) at the end of December.
[IMAGE]New legislation requires all Florida mortgage professionals apply for a new operating license under the National Mortgage Licensing System (NMLS).
In early December the OFR ""announced"":http://dsnews.comarticles/thousands-of-mortgage-professionals-may-be-out-work-for-new-year-2010-12-17 any mortgage professional who had not submitted license applications by
[COLUMN_BREAK]December 31, 2010 would not be eligible to work once the new year began.
Additionally, it could take up to three months from the date they submitted their application before they would be licensed to work again.
But two days before the deadline, the OFR announced any industry professional who filed an application for a new license in NMLS by December 31 could have until March 31, 2011 to complete the application.
All applications still must have been initiated by the deadline, but any individual or business with an active license can still operate while they finish the application requirements. Anyone who did not initiate an application by the end of December is no longer licensed to operate in Florida.
The OFR warns that any licensee whose application is not completed by March 31, 2011 will become unlicensed and will no longer be eligible to work.
To verify if an individual or company can continue operating after January 1, 2011, visit the OFR public license search ""here"":https://real.flofr.com/ConsumerServices/SearchLicensingRecords/Search.aspx .
