Federally Registered and Approved and State Licensed Under the SAFE Act of 2008
Westshore Mortgage & Investments Co., Inc. d/b/a CaribbeanMortgageLoans.com (CML) and its Principals have met all of the required Federal and State licensing qualifications. It's principals and loan originators are both, Federally Registered and Approved under the SAFE Act of 2008. Westshore Mortgage & Investments Co., Inc. is a Licensed Mortgage Broker. Its Principals and all loan officers are Licensed Mortgage Loan Originators and have also been licensed with the State of Florida Office of Financial Regulation since 1995.
*As of June 30, 2011 there are approximately *8,073 Licensed Mortgage Loan Originators in the State of Florida down from a high of more than 90,000 Licensed in the year 2006.
Only 8.097% of those Licensed in 2006 have met the qualifications for Federal Approval and State Licensure required in 2011.
Some of the criteria for licensing and registration of loan originators and principals of the company include:
- Submit and Pass Federal Criminal Background Investigation conducted by the Federal Bureau of Investigation (FBI)
- Submit and Pass State Background Investigation conducted by the Florida Department of Law Enforcement (FDLE)
- Submit and Pass Credit Check
- Complete 20 Hours of Mandatory, Federal (NMLS) Education Requirements
- Pass Mandatory Federal Licensing Examination
- Complete 4 Hours Mandatory, State of Florida (FLOFR) Education Requirements
- Pass Mandatory State of Florida Licensing Examination
Our Federal Registration and State Licensing is 100% Voluntary
Licensing and Registration is NOT required for Westshore Mortgage & Investments Co.'s (CML's) commercial loan business under the SAFE act of 2008. The licensing and registration is completely VOLUNTARY for our business practices as defined both by Federal and State Law. We maintain these licenses and registration and absorb the significant expense and undergo both, personal and corporate regulatory scrutiny on an annual basis to ensure our clients that we are a licensed and legitimate company that maintains the highest standards possible in an the industry which does not require any licensing for commercial mortgage loan brokers.
Mandatory, Annual Requirements to Remain Licensed
- Submit and Pass Annual, Federal Criminal Background Investigation by the Federal Bureau of Investigation (FBI)
- Submit and Pass Annual, State Background Investigation by the Florida Department of Law Enforcement (FDLE)
- Submit and Pass Annual Credit Check
- Complete Annual, Mandatory 8 Hour, State of Florida Continuing Education Requirements
Licensing Information and Consumer Resources
- Federal NMLS Mortgage Loan Originator ID #: 372698 (Licensed Individual)
- Federal NMLS Mortgage Broker ID #: 373216 (Licensed Broker)
Florida Office of Financial Regulation (FLOFR)
- State (FLOFR) Mortgage Loan Originator License #: LO8070 (Licensed Individual)
- State (FLOFR) Mortgage Broker License #: MBR723 (Licensed Broker)
*Data obtained from the NMLS Consumer Access Site
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