Ohio Division of Financial Institutions Consumer Finance ...
Last Review: 03/23/2018 Last Revision: 03/23/2018
Ohio Division of Financial Institutions Consumer Finance Section (Division) Pre-Licensure Education (PE) Notice
Purpose The purpose of this notice is to inform NMLS approved course providers of the required topics to be covered in the 4-hour state specific pre-licensure education (PE) requirement which must be met as a condition for obtaining a Mortgage Loan Originator License with the Ohio Division of Financial Institutions Consumer Finance Section.
PE requirements are as follows: ? 3 hours of Federal law; ? 3 hours of Ethics; ? 2 hours of non-traditional mortgage lending; ? 12 hours of general electives; ? 4 hours of Ohio state-specific defined electives
Total PE: 24 Hours
The Division has established the following required topics list for the 4 hours of statespecific PE:
Required Topics: ? Licensing and Operation of Mortgage Lenders Brokers ? Licensing and Regulation of Mortgage Loan Originators ? General Provisions of the Superintendent's Supervision ? Examinations and Audits ? Records, Financial Statements and Reports ? Surety Bond Requirements ? Escrow and Trust Accounts ? Disclosures and Advertising ? Conditions and Limitations of Certain Mortgage Transactions ? Residential Mortgage Loans ? Enforcement
References: Ohio Revised Code Chapter 1322:
NMLS Ohio State-Specific PE Requirements 03232018
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NMLS Approving Authority In accordance with the SAFE Act, NMLS is the approval authority for courses that are intended to satisfy the PE & CE requirement for an MLO to be licensed by a state-agency. Courses intending to satisfy these requirements must also meet NMLS course approval standards as detailed in the Functional Specification for All NMLS Approved Courses.
Legislative Updates Course providers are responsible for keeping abreast of changes made to the applicable statutes, regulations and rules.
NMLS Ohio State-Specific PE Requirements 03232018
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