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Florida to boost Scrutiny of Business-Purpose Home Mortgages. Fl has passed a rules to crack upon lenders circumventing domestic financial licensing and disclosure requirements in guise generating business-purpose debts On July 1, 2019, Fl’s Household statement 935 (HB 935) needs impact. HB 935 helps it be a crime to straight or ultimately misrepresent a residential mortgage loan as a business-purpose mortgage. The balance, that was passed by Governor Rick Scott on March 21, 2018, additionally clarifies an existing licensing exemption for people who create or acquire home financing financing using their very own funds, or promote these types of a mortgage loan.