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Commerce Division of Financial Institutions  
 

OHIO MORTGAGE LOAN ACT REGISTRANTS

The Ohio Division of Financial Institutions regulates second mortgage lenders and non-depository lenders who make other types of loans in amounts of more than five thousand dollars under Sections 1321.20, 1321.51 to 1321.60 and 1321.99 of the Ohio Revised Code.

• 2011 Annual Report Submission - due June 1, 2011
• 2011 Prepayment Penalty Announcement
• Forms
• Loan Origination Charge Announcement
• Loan Originator State Test Outline (PDF)
• Mortgage Brokers & Lenders Letter 2008-2

• Registration

A person wishing to register under the Ohio Mortgage Loan Act must submit an application to the Division. Instructions and links required to make an application can be found at http://www.com.ohio.gov/fiin/forms.aspx. The Division will investigate the applicant to determine they meet all the statutory requirements for licensure under the act.

Certificates of registration must be renewed annually. If an office is to be relocated or an additional office opened, the registrant must obtain a new certificate of registration from the Division prior to conducting business at the new or additional location.

• Compliance

Registrants are responsible for understanding and complying with the applicable statutes. The Division will periodically examine registrants for compliance with federal and state lending law and has the power to issue subpoenas in the process of conducting examinations and investigations.

In addition, the Division may deny applications for registration, revoke, suspend, or refuse to renew certificates of registration, or impose fines against registrants pursuant to the Ohio Administrative Procedures Act, Chapter 119 of the Ohio Revised Code.

Questions regarding the industries regulated by Consumer Finance may be e-mailed to: webdfi-cf@com.state.oh.us