Ohio Administrative Code Search

...(A) A registrant shall register every office where any of the following activities occur or conditions exist: (1) Leads are solicited or received, directly or indirectly, from residents of this state, for property in this state, or from a location physically in this state; (2) Records pertaining to business conducted pursuant to Chapter 1322. of the Revised Code are maintained in paper form;...

...(A) A registrant shall register every office where any of the following activities occur or conditions exist: (1) Leads are solicited or received, directly or indirectly, from residents of this state, for property in this state, or from a location physically in this state; (2) Records pertaining to business conducted pursuant to Chapter 1322. of the Revised Code are maintained in paper form;...

...(A) Submitting an application for a certificate of registration, letter of exemption or license via the NMLS does not authorize the applicant to begin acting as a registrant, qualified exempt entity, or licensee. The applicant must first receive an active certificate of registration, letter of exemption or license from the superintendent to be authorized to begin acting as a registrant, qualified exempt entity, or li...

...(A) Submitting an application for a certificate of registration, letter of exemption or license via the NMLS does not authorize the applicant to begin acting as a registrant, qualified exempt entity, or licensee. (B) Each question and answer on the NMLS, including any exhibit or attachment, is material to the application process. Submitting false or fraudulent information or omitting information...

...(A) Submitting an application for a certificate of registration, letter of exemption or license via the NMLS does not authorize the applicant to begin acting as a registrant, qualified exempt entity, or licensee. (B) Each question and answer on the NMLS, including any exhibit or attachment, is material to the application process. Submitting false or fraudulent information or omitting information...

...(A) In accordance with division (B) of section 1322.34 of the Revised Code and division (C)(3) of section 1322.05 of the Revised Code, the four-year retention period commences on the date the residential mortgage loan is closed or, if the residential mortgage loan is not closed, the date of the withdrawal or denial of the residential mortgage loan application. If the residential mortgage loan is s...

...(A) In accordance with division (B) of section 1322.34 of the Revised Code and division (C)(3) of section 1322.05 of the Revised Code, the four-year retention period commences on the date the residential mortgage loan is closed or, if the residential mortgage loan is not closed, the date of the withdrawal or denial of the residential mortgage loan application. If the residential mortgage loan is s...

...(A) Every advertisement placed, or caused to be placed, by a registrant or licensee shall, in manner or form that is reasonably understandable to the average borrower: (1) State the name of the registrant as printed on its certificate of registration. If a registrant has been approved by the superintendent to conduct business using a trade name or fictitious name, the registrant may use its name,...

...Conduct that constitutes improper, fraudulent, or dishonest dealings under division (C) of section 1322.40 of the Revised Code includes the following: (A) Failing to return all original documents provided to the registrant or licensee by the borrower; (B) Permitting an unlicensed individual to originate residential mortgage loans; (C) Sharing or splitting any commission, discount, fee or other comp...

...Conduct that constitutes improper, fraudulent, or dishonest dealings under division (C) of section 1322.40 of the Revised Code includes the following: (A) Failing to return all original documents provided to the registrant or licensee by the borrower; (B) Permitting an unlicensed individual to originate residential mortgage loans; (C) Sharing or splitting any commission, discount, fee, or other com...

...The notification requirements in this administrative rule shall be made via the NMLS unless otherwise indicated. If notice of a change is required to be made before its effective date, the registrant or qualified exempt entity shall submit an "advance change notice" via the NMLS. (A) A registrant or qualified exempt entity shall notify the superintendent at least fifteen days before the sale, transfer, or hypothecat...

...The notification requirements in this administrative rule shall be made via the NMLS unless otherwise indicated. If notice of a change is required to be made before its effective date, the registrant or qualified exempt entity shall submit an "advance change notice" via the NMLS. (A) A registrant or qualified exempt entity shall notify the superintendent at least fifteen days before the sale, transfe...

...(A) A registrant or qualified exempt entity may, with the prior approval of the superintendent, use a trade name or fictitious name, provided: (1) The trade name or fictitious name complies with division (A)(1) of section 1101.15 of the Revised Code; and (2) The trade name is registered with or the fictitious name is reported to the Ohio secretary of state in accordance with Chapter 1329. of the Revised Code. (B) ...

...(A) A registrant or qualified exempt entity may, with the prior approval of the superintendent, use a trade name or fictitious name, provided: (1) The trade name or fictitious name complies with division (A)(1) of section 1101.15 of the Revised Code; and (2) The trade name is registered with or the fictitious name is reported to the Ohio secretary of state in accordance with Chapter 1329. of...

...(A) In addition to the criteria set forth in division (G)(2)(i) of section 1322.01 of the Revised Code, a nonprofit organization is exempt from registration if it does all of the following: (1) Promotes affordable housing or provides homeownership education; (2) Conducts its activities in a manner that serves the public or charitable purposes, rather than commercial purposes; (3) Receives funding and revenue and c...

...(A) In addition to the criteria set forth in divisions (F)(1) to (F)(6) of section 1322.01 of the Revised Code, a bona fide nonprofit organization is also required to: (1) Be registered and maintain current registration status with the charitable law section of the Ohio attorney general's office; or (2) Possess a valid letter of exemption from the charitable law section of the Ohio attorney ...

...(A) In accordance with 12 U.S.C. 5103(b)(2), as in effect on January 12, 2014, an independent contractor shall not perform the clerical or support duties as defined in 12 U.S.C. 5102(5)(B), as in effect on January 12, 2014, of a loan processor or underwriter for residential mortgage loans involving property in this state without first having obtained a loan originator license issued pursuant to Chapter 1322. of the R...

...(A) For purposes of division (AA)(2)(h) of section 1322.01 of the Revised Code, "loan processing or underwriting company" means an entity that performs only clerical or support duties for one or more unaffiliated registrants or qualified exempt entities. (B) For purposes of division (AA)(2)(h) of section 1322.01 of the Revised Code, "employee" means an individual for whom the loan processing or u...

...As used in rules 1301:8-7-35 to 1301:8-7-40 of the Administrative Code: (A) "Confirmed successor in interest" means a successor in interest once a mortgage servicer has confirmed the successor in interest's identity and ownership interest in a property that secures a residential mortgage loan. (B) "Dealer" means the following: (1) In the case of property improvement loans, a seller, contracto...

...(A) A mortgage servicer will comply with this rule for any written notice from the borrower that asserts an error and that includes the name of the borrower, information that enables the mortgage servicer to identify the borrower's residential mortgage loan account, and the error the borrower believes has occurred. A notice on a payment coupon or other payment form supplied by the mortgage service...

...(A) A mortgage servicer will comply with this rule for any written request for information from a borrower that includes the name of the borrower, information that enables the mortgage servicer to identify the borrower's residential mortgage loan account, and states the information the borrower is requesting with respect to the borrower's residential mortgage loan. A request on a payment coupon or...

...(A) In accordance with sections 1315.21 to 1315.30 of the Revised Code each check-cashing business shall obtain a license for its main office. An application, license fee and investigation fee shall also be submitted to the superintendent of financial institutions for authorization for each additional business location where check-cashing activity is to be conducted. Every subsequent application f...

...(A) Each applicant for a short-term loan license shall obtain and each licensee shall continuously maintain a corporate surety bond that conforms to the requirements set forth in division (D) of section 1321.37 of the Revised Code and complies with the following: (1) The surety bond shall be in a format prescribed by the division. (2) The surety bond must be issued in the name of the applicant or licensee, and shal...

...(A) Each applicant for a short-term loan license shall obtain and each licensee shall continuously maintain a corporate surety bond that conforms to the requirements set forth in division (D) of section 1321.37 of the Revised Code and complies with the following: (1) The surety bond shall be in a format prescribed by the division. (2) The surety bond must be issued in the name of the applica...

...(A) For the purchase of notes of liquidating other credit unions, notes made by individual members of a credit union may be purchased by another credit union at a price agreed upon by the credit unions and subject to the prior written approval of the superintendent. (B) Authorized investments and investment restrictions (1) No credit union shall invest any of its funds in any securities or ...