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2024 Ohio Revised Code
Title 13 | Commercial Transactions
Chapter 1322 | Ohio Residential Mortgage Lending Act (Rmla)
Section 1322.07 | Requirement to Obtain Certificate of Registration or License.

Universal Citation:
OH Rev Code § 1322.07 (2024)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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Effective: September 1, 2021

Latest Legislation: House Bill 133 - 134th General Assembly

(A)(1) No person, on the person's own behalf or on behalf of any other person, shall engage in the transaction of business as a mortgage lender, mortgage servicer, or mortgage broker in this state without first having obtained a certificate of registration from the superintendent of financial institutions for the principal office and every branch office to be maintained by the person for the transaction of business as a mortgage lender, mortgage servicer, or mortgage broker in this state.

(2) A registrant shall maintain an office location for the transaction of business as a mortgage lender, mortgage servicer, or mortgage broker in any state of the United States. Registrants are not required to maintain a physical location in this state.

(B)(1) No individual shall act as a mortgage loan originator without first having obtained a license from the superintendent. A mortgage loan originator shall be employed by or associated with a registrant or entity holding a valid letter of exemption under this chapter, but shall not be employed by or associated with more than one registrant or entity holding a valid letter of exemption under this chapter at any one time.

(2) An individual acting under the individual's authority as a registered mortgage loan originator shall not be required to be licensed under division (B)(1) of this section.

Last updated June 22, 2021 at 1:10 PM

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