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A branch supervisor compares company policy with Ohio requirements during a state-law refresher. Which statement fits records, reports, and required notices?

Correct Answer

A) Ohio mortgage servicers that engage exclusively in servicing must maintain a minimum $150000 bond.

Ohio mortgage servicers that engage exclusively in servicing must maintain a minimum $150000 bond.

Answer Options
A
Ohio mortgage servicers that engage exclusively in servicing must maintain a minimum $150000 bond.
B
Treat consumer consent as a cure for a prohibited or missing compliance step.
C
Treat the timing or filing requirement as optional if the transaction appears low risk.
D
Assume the Ohio requirement does not apply to this renewal checklist.

Why This Is the Correct Answer

Ohio mortgage servicers that engage exclusively in servicing must maintain a minimum $150000 bond.

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