How is net worth calculated for purposes of Ohio's RMLA mortgage entity licensing requirements?
Correct Answer
B) Total assets minus total liabilities as shown on the entity's balance sheet
Net worth for RMLA purposes is calculated as total assets minus total liabilities, as reflected on the entity's balance sheet in audited or certified financial statements submitted to the DFI.
Why This Is the Correct Answer
Net worth for RMLA purposes is calculated as total assets minus total liabilities, as reflected on the entity's balance sheet in audited or certified financial statements submitted to the DFI.
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