Mortgage licensing / Ohio

Ohio Residential Mortgage Lending Act Letter of Exemption

company licence · NMLS OHRESLENDEREXEMPT_C · DFI

Requirements (20)

1. Step 1

   Financial Statement: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. NOTES: • If applicant is a start-up company, only an initial statement of condition is required. • Financial Statement is NOT required to be completed by a Certified Public Accountant.

   Submitted via: Upload in NMLS: under the Filing tab and Financial Statement submenu link.

2. Step 2

   Other Trade Name: If operating under a name that is different from the applicant’s legal name, that name (“Trade Name”, “Assumed Name” or “DBA”) must be listed under the Other Trade Names section of the Company Form (MU1). The Division of Financial Institutions does not limit the number of other trade names. If operating under an “Other Trade Name”, upload Ohio Secretary of State Trade Name Certificate of Registration regarding ability to do business under that trade name. This document should be named OH-RM-Exemption -Trade Name-Assumed Name.

   Submitted via: NMLS and Upload in NMLS: under the Document Type Trade Name/Assumed Name Registration Certificates in the Document Uploads section of the Company Form (MU1).

3. Step 3

   Resident/Registered Agent: The Resident/Registered Agent must be listed under the Resident/Registered Agent section of the Company Form (MU1) and must match the information currently on record with the Ohio Secretary of State.

   Submitted via: NMLS

4. Step 4

   Non-Primary Contact Employees: OH requires that an individual(s) be identified as a Non-Primary Contact for the following areas. These contacts must be listed in the Contact Employees section of the Company Form (MU1). • Exam Billing • Exam Delivery • Pre-Exam Contact

   Submitted via: NMLS

5. Step 5

   Qualifying Individual/Operations Manager: Each mortgage company must designate an “Operations Manager” (OM) who must be a licensed Mortgage Loan Originator in Ohio, and must be listed as a qualifying individual on Form MU1. Provide a resume with detailed job descriptions and duties performed to show experience that meets the requirements contained in ORC 1322.12. In particular, the experience must include “at least three years of experience in the residential mortgage and lending field including experience as a mortgage loan originator, registered mortgage loan originator, or other experience related to the business of residential mortgage lending that the Superintendent determines is sufficient.” Upload in NMLS any additional proof of industry experience (such as IRS Employment Records that match the candidate’s employment history) under Verification of Experience in the Document Uploads section of the Individual Form (MU2/MU4). This document should be named RM-Exemption Operations Manager Experience

   Submitted via: NMLS

6. Step 6

   Credit Report: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

   Submitted via: NMLS

7. Step 7

   Credit Report Explanations: Any credit report filed with this Department containing tax liens, judgments, unpaid child support, bankruptcies, and/or charged off accounts will likely cause the processing of the application to be delayed or possibly cause the application to be denied. Outstanding derogatory credit issues or bankruptcies, which have not been discharged, will require satisfactory explanation. This document should be named Credit Report Explanations – Sub Name –Document Creation Date

   Submitted via: Upload in NMLS: under Credit Report Explanations in the Document Uploads section of the Individual Form (MU2).

8. Step 8

   MU2 Individual FBI Criminal Background Check Requirements: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

   Submitted via: NMLS

9. Step 9

   Electronic Surety Bond: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

   Submitted via: Electronic Surety Bond in NMLS

10. Step 10

    Surety Bond Requirements Table Amount of Mortgage Originations from previous calendar year Bond Amount Plus $0.00 to $10,000,000.00 Minimum $50,000.00 $10,000 per branch $11,000,000.00 to $12,000,000.00 $60,000.00 $10,000 per branch $13,000,000.01 to $14,000,000.00 $70,000.00 $10,000 per branch $15,000,000.01 to $16,000,000.00 $80,000.00 $10,000 per branch $17,000,000.01 to $18,000,000.00 $90,000.00 $10,000 per branch $19,000,000.01 to $20,000,000.00 $100,000.00 $10,000 per branch $21,000,000.01 to $22,000,000.00 $110,000.00 $10,000 per branch $23,000,000.01 to $24,000,000.00 $120,000.00 $10,000 per branch $25,000,000.01 to $26,000,000.00 $130,000.00 $10,000 per branch $27,000,000.01 to $28,000,000.00 $140,000.00 $10,000 per branch $29,000.000.01 to $30,000.000.00 Maximum $150,000.00 No additional branch bond amount necessary $30,000,000.01 to any amount over $30 Million Maximum $150,000.00 Formula: Any amount listed on the Bond Declaration form X .50% = Bond Amount Notes: • For renewal, it is company's responsibility to ensure the bond is renewed through the upcoming calendar year. ESBs do not automatically renew for the correct amount, name change, or legal status. It is the company's responsibility to ensure the bond is current and accurate at all times throughout licensure • For servicing-only companies: the bond must be at least the minimum requirement of $150,000, regardless of loan amount/volume. • It is the company's responsibility to ensure the bond is current and accurate at all times throughout licensure. If any changes to the ESB are required, the company must contact the producer. • Surety bonds submitted via the Document Uploads section will not satisfy this requirement.

11. Step 11

    Surety Bond Declaration and Company Resolution: Companies that will carry an Electronic Surety bond of less than $150,000 must submit the Surety Bond declaration form. Surety bond not accompanied by the declaration form will not satisfy this requirement. Download, execute and upload the RMLA Surety Bond Declaration and Company Resolution This document must be named RM-Exemption Declaration and Company Resolution Note: Company Resolution is not necessary for sole proprietors, mortgage loan originators, or if the designee is on file as having previously been given authority to submit documents on behalf of the company.

    Submitted via: Upload in NMLS: under Declaration in the Document Uploads section of the Company Form (MU1).

12. Step 12

    Business Plan: Upload a business plan outlining the following information: • Mortgage activity • Mortgage origination (brokering and/or lending) • Mortgage servicing (indicate if the company engages exclusively in mortgage servicing) • Marketing strategies • Products • Target markets • Fee • Operating structure the applicant intends to employ This document should be named [Company Legal Name] RM-Exemption Business Plan Note: If the existing uploaded business plan already includes the above information, an additional document does not need to be uploaded. A company should only upload a single business plan. If state-specific material is required, this information should be added to the existing uploaded business plan.

    Submitted via: Upload in NMLS: under the Document Type Business Plan in the Document Uploads section of the Company Form (MU1).

13. Step 13

    Business Continuity Plan: Upload document(s) including description of how a company plans, prevents, maintains, and/or recovers essential functions, systems, processes, and other business operations involving threats to the business, including during a disaster. This document should be named [Company Legal Name] RM-Exemption Business Continuity Plan

    Submitted via: Upload in NMLS: under the Document Type Business Continuity Plan in the Document Uploads section of the Company Form (MU1).

14. Step 14

    Certificate of Authority/Good Standing Certificate: Upload a State-issued and approved document (typically by the Secretary of State’s office), dated not more than 60 days prior to the filing of the application through NMLS that demonstrates authorization to do business in Ohio. This document should be named OH Certificate of Authority -or- OH Certificate of Good Standing

    Submitted via: Upload in NMLS: under the Document Type Certificate of Authority/Good Standing Certificate in the Document Uploads section of the Company Form (MU1).

15. Step 15

    Company Staffing and Internal Policies: Upload document(s) including information on staffing and internal organizational policies and procedures. If submitting multiple policies, upload and name each policy separately. The document must include the following information: • Internal audit plan, policies, procedures and schedule for all compliance issues including, but not limited to, PATRIOT ACT/Bank Secrecy Act, and information technology. • Policies and procedures to receive and process consumer inquiries and grievances promptly and fairly. This document should be named Staffing and Internal Policies

    Submitted via: Upload in NMLS: under the Document Type Company Staffing and Internal Policies in the Document Uploads section of the Company Form (MU1).

16. Step 16

    Document Samples – ALL COMPANIES. Upload copies of the following sample documents used in the regular course of business in connection with this license application: • A sample or copy of your Computer System and Anti-virus Software to be used in this business that indicates applicant will be in compliance with the Ohio Residential Mortgage Lending Act and Regulations. If a manual recordkeeping system is used, indicate as such. This document should be named Computer System • The days and business hours of this proposed office. This document should be named Business Hours • Other Businesses from location: A list of other types of businesses that will be operated from this location. This document should be named Other Business Document Samples - LENDERS. Upload copies of the following sample documents used in the regular course of business in connection with this license application: • Complete sample loan contracts, including any Truth in Lending statements and promissory notes. Indicate methods for compliance with applicable Ohio Revised Code sections. Submit a sample for each different type of loan product the applicant anticipates offering, including separate sample forms for any different types of interest calculation or payment structures. View Sample Loan Contract This document should be named RM-Exemption Loan Doc Samples • A copy of the documents listed on the Office of the Ohio Attorney General These documents should be named Mortgage Loan Disclosures • Verification of Pre-Purchase Counseling Disclosure, found on the Division’s website. This document should be named Pre-Purchase Counseling Disclosure Document Samples - BROKERS. Upload copies of the following sample documents used in the regular course of business in connection with this license application: • Submit a completed sample of the Mortgage Broker Contract Agreement that the company has with the lender and/or its clients. This document should be named [Brokering Company Name] Mortgage Brokering Sample Contract Agreement • Submit a copy of the documents listed on the Office of the Ohio Attorney General These documents should be named Mortgage Loan Disclosures Document Samples - SERVICERS. Upload copies of the following sample documents used in the regular course of business in connection with this license application: • Submit sample payment history documents. This document should be named RM-Exemption Document Samples-Servicing • Submit a copy of any written Mortgage Servicing Agreement or Contract related to mortgage servicing rights. This document should be named [Servicing Company Name] Mortgage Servicing Agreement

    Submitted via: Upload in NMLS: under Document Samples in the Document Uploads section of the Company Form (MU1).

17. Step 17

    Formation Documents: Determine classification of applicant’s legal status and submit a State certified copy of the requested applicable documentation detailed below. Original formation documents and all subsequent amendments, thereto including a list of any name changes. Sole Proprietor: • Applicable formation documents. Unincorporated Association: • By-Laws or constitution (including all amendments). General Partnership: • Partnership Agreement (including all amendments). Limited Liability Partnership: • Certificate of Limited Liability Partnership; and • Partnership Agreement (including all amendments). Limited Partnership: • Certificate of Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Limited Partnership: • Certificate of Limited Liability Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Company (“LLC”): • Articles of Organization (including all amendments); • Operating Agreement (including all amendments); • IRS Form 2553 or IRS Form 8832 if S-corp treatment elected; and • LLC resolution if authority not in operating agreement. Corporation(“LLC”): • Articles of Organization (including all amendments); • By-laws (including all amendments), if applicable; • Shareholder Agreement (including all amendments), if applicable; • Operating Agreement (including all amendments); • IRS Form 2553 if S-corp treatment elected, and • Corporate resolution if authority to complete application not in By-Laws or Shareholder Agreement, as amended, as applicable Not for Profit Corporation: • Documents requested of a Corporation; and • Proof of nonprofit status • Internal Revenue Service (“IRS”) 501(c)(3) designation letter; or • statement from a State taxing body or the State attorney general certifying that: (i) the entity is a nonprofit organization operating within the State; and (ii) no part of the entity’s net earnings may lawfully benefit any private shareholder or individual; or • entity's certificate of incorporation or similar document if it clearly establishes the nonprofit status of the applicant; or • Any of the three preceding items described, if that item applies to a State or national parent organization, together with a statement by the State or parent organization that the applicant is a local nonprofit affiliate. Trust (Statutory) • Certificate of Trust; and • Governing instrument (all amendments).

    Submitted via: Upload in NMLS: under Formation Document in the Document Uploads section of the Company Form (MU1). This document should be named Formation Documentation [Date of Creation (MM-DD-YYYY)]

18. Step 18

    Management Chart: Submit a Management chart displaying the applicant’s directors, officers, and managers (individual name and title). Must also identify compliance reporting and internal audit structure. This document should be named [Company Legal Name] Management Chart Note: If the existing uploaded management chart already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart.

    Submitted via: Upload in NMLS: under Management Chart in the Document Uploads section of the Company Form (MU1).

19. Step 19

    Organizational Chart/Description: Submit a chart showing (or a description which includes) the percentage of ownership of: • All direct owners of 5% or more (direct ownership information must account for 100% of ownership). • Indirect owners that own or control 5% or more of the applicant. • All individuals listed as direct owners and executive officers on the Organization Chart/Description must match the individuals listed on the Managemetn Chart. This document should be named [Company Legal Name] Organizational Chart – Description Note: If the existing uploaded Organizational Chart/Description already includes the above information, an additional document does not need to be uploaded. A company should only upload a single Organizational Chart/Description.

    Submitted via: Upload in NMLS: under Organizational Chart/Description in the Document Uploads section of the Company Form (MU1).

20. Step 20

    Ohio Attestation: Download, execute, and upload the Ohio License Attestation. This document should be named RM-Exemption Ohio Attestation

    Submitted via: Upload in NMLS: under Company Staffing and Internal Policies in the Document Uploads section of the Company Form (MU1).

General information

Other Ohio mortgage licenses

• Mortgage Loan Originator License
• Residential Mortgage Lending Act Branch Registration
• Residential Mortgage Lending Act Certificate of Registration
• Residential Mortgage Lending Act Letter of Exemption Branch Registration
• All 5 Ohio licenses

Sourced from the NMLS/CSBS state licensing record, last updated July 14, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.