Florida Commissioner Drew Breakspear Opens the 6th Annual NMLS Conference

bloglogoDrew Breakspear, Commissioner of the Florida Office of Financial Regulation, just opened the 6th Annual NMLS Conference and welcomed conference attendees to Florida.

Breakspear provided interesting facts about the state of Florida and its economy.

Of note:

  • Florida was hard hit by the financial crisis in 2008, but the economy is recovering.  The unemployment rate at one point was at 11%, but now is down to 6.2%.
  • In 2011, 93,000 mortgage loans were originated in the amount of $16 billion.  In 2013, 250,000 mortgages were made in the amount of $50 billion.
  • In Miami, 60% of homes are paid for in cash.

Breakspear concluded his remarks by stressing the need for smart, efficient, and effective regulation.  “We need a healthy, thriving, and appropriately regulated financial services industry in this country,” he stated.

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