An Ohio file is paused during a mortgage operations checklist because of records and reporting. Which statement clears the compliance question?
Correct Answer
C) Ohio surety-bond requirements must remain in effect as the state rule requires.
Ohio registrants must maintain a corporate surety bond in favor of the superintendent at 0.5 percent of the prior-year aggregate residential mortgage loan amount, capped at $150000.
Why This Is the Correct Answer
Ohio registrants must maintain a corporate surety bond in favor of the superintendent at 0.5 percent of the prior-year aggregate residential mortgage loan amount, capped at $150000.
More UST Questions
In a Missouri mortgage file, the loan file reviewer is asked to document licensing and NMLS authority before continuing. Which rule controls?
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A licensing checklist in Missouri includes a question about scope, definitions, and exemptions. Which entry should the branch supervisor keep?
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