Mortgage · Ohio
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Ohio mortgage FAQs
Yes. The 24 hours of NMLS-approved pre-licensure education Ohio requires, including the 4-hour Ohio-specific law component, can be completed online. Keep the five-year clock in mind: pre-licensure education and test results expire 5 years after you earn the credit, and submitting an application does not stop that clock. Only an approved application resets it.
Yes. The Ohio Division of Financial Institutions uses NMLS to apply for and manage its financial licenses, including licenses under the Residential Mortgage Lending Act, so you submit the application and manage the license electronically. Fingerprints for the FBI background check, the credit report authorization, and any required surety bond, which must be filed as an electronic surety bond in NMLS, are all handled through the system.
Yes. Under the federal SAFE Act, a mortgage loan originator must be licensed in each state where they take residential mortgage loan applications or offer or negotiate loan terms, and must maintain a personal NMLS record in each state of origination activity. An MLO already licensed in one state may rely on Temporary Authority to originate in a new state for up to 120 days while completing that state's application.
No. Under the SAFE Act, loan underwriting is not a licensed activity; only individuals who take residential mortgage loan applications or offer or negotiate loan terms must be licensed. In Ohio, that license is the Mortgage Loan Originator License issued by the Division of Financial Institutions.
No. Loan processing and loan underwriting are not covered by the SAFE Act licensing requirement, which applies to individuals who, for compensation or gain, take residential mortgage loan applications or offer or negotiate loan terms. An underwriter needs a license only if the job also includes those activities.
No. Loan processing is not covered by the SAFE Act's licensing requirement, which applies to individuals who, for compensation, take residential mortgage loan applications or offer or negotiate loan terms. A loan processor who does not perform those activities is not required to hold a mortgage loan originator license.
No, Ohio does not require a college degree for a mortgage loan originator license. The requirements are 24 hours of NMLS-approved pre-licensure education, a passing SAFE MLO test score, an FBI background check, a credit report review, and sponsorship by a licensed mortgage company.
No. Loan underwriting is not a covered activity under the SAFE Act, so Ohio does not require a mortgage loan originator license for underwriters. A license is required for individuals who, for compensation or gain, take or offer to take residential mortgage loan applications, assist buyers in obtaining a residential mortgage loan, or offer or negotiate the terms of one.
You do not need employer sponsorship to receive an Ohio Mortgage Loan Originator License, but you cannot conduct business without one. Ohio issues the license as "Approved-Inactive" when you have completed all requirements but are not employed by a mortgage company. Once your employer submits a sponsorship request and Ohio accepts it, your status updates to Approved and you may originate loans.
For Ohio mortgage loan originator licensing questions, contact the Ohio Division of Financial Institutions, Consumer Finance licensing staff, at (614) 644-6484 or WebDFI-CF@com.ohio.gov. Applications and license records are managed through the Nationwide Multistate Licensing System (NMLS).