Statement By Florida Governor Charlie Crist Regarding SB 1824 – Relating To Mortgages

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June 19, 2007 -- “Today I signed legislation to ensure that all Floridians who participate in the American dream of home ownership receive consumer protections with regard to mortgages. The Office of Financial Regulation will now be fully authorized to enforce the provisions of federal lending laws and any regulations under those laws.

“I applaud the Florida House and Senate, and especially bill sponsors Representative Garrett Richter and Senator Mike Fasano, for working to provide consumers full disclosure of all possible fees from every party involved in the mortgage – including the lender, mortgage broker, title company and any other required costs from any other third party.

“Consumers will benefit from having access to the most complete information possible when signing the necessary documents at the closing of a mortgage, including details about what it means to agree to an adjustable mortgage rate. When consumer protections are increased, Floridians are much better off.”

Source: Florida Governor