Ohio Code 1322.56 – Adoption of rules to comply with NMLS requirements
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The superintendent of financial institutions may adopt, in accordance with Chapter 119 of the Revised Code, any rule necessary to comply with the requirements of the nationwide mortgage licensing system and registry, including requirements pertaining to all of the following:
Terms Used In Ohio Code 1322.56
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage: means the consensual interest in real property located in this state, including improvements to that property, securing a debt evidence by a mortgage, trust indenture, deed of trust, or other lien on real property. See Ohio Code 1322.01
- Nationwide mortgage licensing system and registry: means a licensing system developed and maintained by the conference of state bank supervisors and the American association of residential mortgage regulators, or their successor entities, for the licensing and registration of persons providing non-depository financial services. See Ohio Code 1322.01
- Rule: includes regulation. See Ohio Code 1.59
- Superintendent of financial institutions: includes the deputy superintendent for consumer finance as provided in section 1181. See Ohio Code 1322.01
(A) Payment of nonrefundable fees to apply for, maintain, and renew licenses through the nationwide mortgage licensing system and registry;
(B) Renewal or reporting dates;
(C) Procedures to amend or to surrender a license;
(D) Any other activity necessary for participation in the nationwide mortgage licensing system and registry.
Last updated June 22, 2021 at 2:40 PM