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For assistance with mortgage licensing, contact us at:Direct Phone: (714) 721-3963
Fax: (714) 829-1444
steven@imlicensing.com
Information herein is for educational purpose only and is not meant to be a complete statement of all state mortgage licensing requirements. Additional State and FHA mortgage licensing requirements may be required. If you need further information, we would encourage you to contact us directly.
Ohio Mortgage Licensing
Mortgage Banker or Broker
Mortgage Broker License
Physical Office Required: Yes - http://codes.ohio.gov/oac/1301%3A8-7-02 - See Section G
In-State Officer/ Key Person: No
Minimum Net Worth: $ None
Surety Bond: 0.5% of Nationwide Loan Volume for previous calendar year up to $150,000 maximum and down to $50,000 minimum
State Initial Fee: $350
State Renewal Fee: $350
Branch Licensing: Yes
Loan Originator Licensing: Yes
Experience/Education: 24 hours of education for principal officer and loan officers
Comments: If the Operations Manager (OM) leaves the company once you are licensed, Ohio gives 10 days to notify them that the current OM has left. They then give you 30 days to designate the new OM. At that time, they will require some documentation on the new OM to authorize that person to take the OM Test. Then once they authorize that new person to take the OM Test, that new person has 90 days to pass the OM Test in order for the company's license to remain active.
Regulated by:
Ohio Department of Commerce
Division of Financial Institutions
77 South High Street, 21st Floor
Columbus, OH 43215-6120
Phone: (614) 728-8400
Sheila - (614) 644-9577
http://www.com.ohio.gov/fiin/