Florida Senate Bill 1632 (SB 1632) should alarm private lenders because it makes a major substantive change to current law. The current bill aims to remove the long-standing business purpose exception from mortgage lender licensing. Specifically, SB 1632 revises the definition of the term “mortgage loan.” The current definition is: “Residential loan that primarily for personal, family, or household use which is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling….”[1] The new definition removes the following language “primarily for personal, family, or household use.”

If this bill is signed into law, every lender who makes a loan secured by a dwelling, regardless of the purpose of the loan would need to obtain a mortgage lender license.

In case you missed it, you can read the original update here.


  1. Locate your Florida senator by searching for your county in the right column. Hint: By clicking on your senator's name you will be directed to their page.
  2. Contact Senator Taddeo’s office where you are able to email or call her office.
  3. On each page, locate the blue 'email this senator' button on the left side under their photo.
  4. Choose "Jobs and Economy" as the topic in the pop-up.
  5. Copy and paste the following into 'Your Comments or Questions.' Don't forget to fill in the blanks with your information and hit send!

Dear Senator __________,

Thank you for your contributions and political leadership in our community and the state of Florida. My name is ____________, and I transact business in Florida as ______________. It has come to my attention that proposed legislation, Florida Senate Bill 1632, poses great risks to the people, businesses, and economy of Florida. I strongly urge you to vote against Senate Bill 1632.

Specifically, this bill would devastate Florida’s private lending industry. Senate Bill 1632 would eliminate the long-standing “business-purpose” licensing exception, an exception many private lenders transact business under. Around 40 states recognize this useful exception. To change the norm in Florida would make the state unduly restrictive and encourage borrowers and lenders to make transactions elsewhere. This bill will personally affect myself and my business, as a member of the private lending community. To date, I have made around _____________ loans in the state of Florida. This totaled to approximately _____ dollars. Should this legislation pass, I will be unable to operate in your state.

Senate Bill 1632 has potential grievous effects on the economy, as it would drive out lenders who have made loans in the state for many years. Further, borrowers will have less options for capital, hurting Florida property owners seeking a competitive mortgage loan market. For the reasons stated above, I urge you to vote against Senate Bill 1632.

Thank you for your consideration.



If you prefer to send your opposition to SB 1632 through the mail, download this customizable opposition letter.