Section 1322.02 | Rules amending definitions of mortgage broker, lender, or originator; rules amending criteria for letters of exemption.
The superintendent of financial institutions may, by rule, amend the definition of mortgage loan originator, mortgage broker, or mortgage lender in section 1322.01 of the Revised Code, or the criteria for an entity to obtain a letter of exemption under division (B)(1) of section 1322.05 of the Revised Code, if the superintendent finds that the change is necessary to remain consistent with the purposes intended by the policy and provisions of the "Secure and Fair Enforcement for Mortgage Licensing Act of 2008," 122 Stat. 2810, 12 U.S.C. 5101.
Rules authorized by this section shall be adopted in accordance with Chapter 119. of the Revised Code.
Last updated June 22, 2021 at 2:49 PM