Section 1322.07 | Requirement to obtain certificate of registration or license.
(A) No person, on the person's own behalf or on behalf of any other person, shall act as a mortgage lender or mortgage broker 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 or mortgage broker in this state. A registrant shall maintain an office location for the transaction of business as a mortgage lender or mortgage broker 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 mortgage lender, mortgage broker, or entity holding a valid letter of exemption under division (B)(1) of section 1322.05 of the Revised Code, but shall not be employed by or associated with more than one registrant or entity holding a valid letter of exemption under division (B)(1) of section 1322.05 of the Revised Code 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.
(3) An individual who holds a valid temporary mortgage loan originator license issued pursuant to section 1322.24 of the Revised Code may engage in the business of a mortgage loan originator in accordance with this chapter during the term of the temporary license.
Last updated June 22, 2021 at 2:51 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 ]