Section 1322.07 | Requirement to obtain certificate of registration or license.
(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
Available Versions of this Section
- December 28, 2009 – Senate Bill 124 - 128th General Assembly [ View December 28, 2009 Version ]
- March 23, 2018 – House Bill 199 - 132nd General Assembly [ View March 23, 2018 Version ]
- March 20, 2019 – Amended by House Bill 489 - 132nd General Assembly [ View March 20, 2019 Version ]
- September 1, 2021 – Amended by House Bill 133 - 134th General Assembly [ View September 1, 2021 Version ]