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17 Cards in this Set
- Front
- Back
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Ohio’s regulatory laws and rules fall under which code?
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How is a (mortgage) loan originator defined?
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Who is a mortgage loan originator employed by?
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Who is a loan originator/officer employed by?
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Who is the head of the DFI?
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What are a few of the powers the Division has?
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When is a loan processor required to obtain a license?
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If an action is brought against a surety bond, when is the licensee required to provide a notice to the Superintendent?
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What does the disclosure required for covered loans state to the borrower?
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What must applicants for licensure submit to the Superintendent to meet the background check requirements?
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What is the difference between the pre-licensing education under OMBA and OMLA?
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When is the last day to renew late and pay a $100 late fee?
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When can a mortgage lender charge a borrower a mortgage late fee?
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How are the minimum courses required for continuing education broken down?
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How long will a misdemeanor involving financial services count against an applicant for licensure?
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Where must yield spread premium be disclosed to a borrower?
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Licensees must place their license number on?
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How is a special account defined?
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What is the maximum civil penalty that may be imposed for deceptive practices?
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When must material changes be disclosed to a borrower?
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What is considered a material change?
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In which circumstances is a mortgage broker or lender prohibited from referring business to an appraisal company?
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If a (mortgage) loan originator is terminated, what must their employer do?
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What must be considered when assessing a client’s repayment ability?
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What is the rule regarding the refinancing of a zero interest or low-rate loan?
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How is a low-rate loan defined?
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What is the surety bond requirement based on?
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When is a real estate broker/agent exempt from licensing?
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The definition of a high-cost loan (covered loan) does not include?
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What are the interest rate thresholds for loans covered by HOEPA?
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When must a licensee notify the Superintendent that they have been convicted of a felony, had a license revoked, or have been convicted of a financially related crime in general?
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When will a license expire?
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What is the purpose of the Mortgage Loan Origination Disclosure Statement?
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Who must a borrower make a check payable to for 3rd party services?
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