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An Ohio state compliance officer is reviewing an annual compliance meeting tied to sponsorship and employment status. Which rule should be applied?

Correct Answer

C) Ohio prohibits an individual from acting as an MLO without first obtaining a license from the superintendent unless the individual acts as a registered mortgage loan originator.

Ohio prohibits an individual from acting as an MLO without first obtaining a license from the superintendent unless the individual acts as a registered mortgage loan originator.

Answer Options
A
Assume the Ohio requirement does not apply to this MLO sponsorship update.
B
Treat sponsorship and employment status as satisfied by borrower consent alone.
C
Ohio prohibits an individual from acting as an MLO without first obtaining a license from the superintendent unless the individual acts as a registered mortgage loan originator.
D
Delay the Ohio requirement until after the loan closes or the renewal period ends.

Why This Is the Correct Answer

Ohio prohibits an individual from acting as an MLO without first obtaining a license from the superintendent unless the individual acts as a registered mortgage loan originator.

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