Q: Do delinquent accounts affect MLO license approval in Florida?

A: In Florida, financial responsibility is indeed a key factor in determining MLO license approval. Your delinquent accounts and charge-offs may be considered "adverse credit history information" under Rule 69V-40.0113, which regulators use to evaluate your financial responsibility when deciding whether you demonstrate the character and general fitness necessary for licensure.

While Florida doesn't specifically require a minimum credit score, they do examine your overall financial situation carefully. When evaluating your application, regulators will consider the totality of circumstances surrounding any adverse credit items. The good news is that Florida allows you to provide context for these financial issues, which means you have an opportunity to explain any extenuating circumstances that led to your charge-offs and delinquencies and demonstrate how you're addressing them.

For your best chance at approval, you should consider entering into payment plans for your delinquent accounts before submitting your application. While not explicitly stated as a requirement, evidence of taking responsibility through payment arrangements shows good faith and financial responsibility. Given your 45-day timeline, you might want to prioritize setting up these payment plans and gathering documentation of them to include with your application. If that's not possible before your deadline, clearly document your efforts and intentions to resolve these matters in your application materials.