Ohio Revised Code
Chapter 1322 | Ohio Residential Mortgage Lending Act (Rmla)
Section 1322.34 | Examination and Maintenance of Records; Reports to Nmls.

Effective: September 1, 2021
Latest Legislation: House Bill 133 - 134th General Assembly
(A) As often as the superintendent of financial institutions considers it necessary, the superintendent may examine the records of a registrant or licensee or holder of a letter of exemption issued under this chapter, including all records created or processed by a licensee, pertaining to business transacted pursuant to this chapter.
(B) A registrant or licensee shall maintain records pertaining to business transacted pursuant to this chapter for four years. For purposes of this division, "registrant or licensee" includes any person whose certificate of registration or license is cancelled, surrendered, or revoked or who otherwise ceases to engage in business as a mortgage lender, mortgage servicer, mortgage broker, or mortgage loan originator.
No registrant or licensee shall fail to comply with this division.
(C) Each registrant, licensee, and entity holding a valid letter of exemption issued under this chapter shall submit to the nationwide mortgage licensing system and registry call reports or other reports of condition, which reports shall be in such form and shall contain such information as the nationwide mortgage licensing system and registry may require. Each registrant and entity holding a valid letter of exemption under this chapter shall ensure that all residential mortgage loans that are consummated as a result of a mortgage loan originator's loan origination activities or serviced by the registrant or entity holding a valid exemption are included in the report of condition submitted to the nationwide mortgage licensing system and registry.
(D) Any document or record that is required to be signed and that is filed in this state as an electronic record through the nationwide mortgage licensing system and registry, and any other electronic record filed through the nationwide mortgage licensing system and registry, shall be considered a valid original document upon reproduction to paper form by the division of financial institutions.
(E) In the event electronic records, books, records, data, and documents of a registrant or holder of a letter of exemption issued under this chapter are located outside of this state and the superintendent determines that an in-person examination is necessary, the registrant or holder of a letter of exemption shall, upon the request of the superintendent, pay the estimated costs of the examination, including the proportionate cost of the salaries of division of financial institutions employees who conduct the examination.
Last updated June 22, 2021 at 2:27 PM

Structure Ohio Revised Code

Ohio Revised Code

Title 13 | Commercial Transactions

Chapter 1322 | Ohio Residential Mortgage Lending Act (Rmla)

Section 1322.01 | Rmla Definitions.

Section 1322.02 | Rules Amending Definitions of Mortgage Broker, Lender, or Originator; Rules Amending Criteria for Letters of Exemption.

Section 1322.04 | Applicability of Rmla.

Section 1322.05 | Credit Union Service Organization or Depository Institution Application for Letter of Exemption; Fee.

Section 1322.07 | Requirement to Obtain Certificate of Registration or License.

Section 1322.09 | Application for Certificate of Registration; Fee.

Section 1322.10 | Conditions for Issuing Certificate of Registration; Renewal.

Section 1322.12 | Designation of Operations Manager; Eligibility.

Section 1322.15 | Obfuscation or Concealment of True Ownership or Control.

Section 1322.16 | Transfer of Ownership Interests; Notification.

Section 1322.17 | Persons Registered Solely to Sell Leads or to Match Buyers.

Section 1322.20 | Application for Mortgage Loan Originator License.

Section 1322.21 | Conditions for Issuing Mortgage Loan Originator License; Renewal.

Section 1322.27 | Examination for Mortgage Loan Originator License.

Section 1322.28 | Continuing Education for Mortgage Loan Originator.

Section 1322.29 | Supervision of Mortgage Loan Originator; Transfer of License.

Section 1322.30 | Interest.

Section 1322.32 | Corporate Surety Bond; Notice of Action or Judgment.

Section 1322.34 | Examination and Maintenance of Records; Reports to Nmls.

Section 1322.35 | Obstructing Examination or Investigation by Superintendent of Financial Institutions.

Section 1322.36 | Public Records and Privileged and Confidential Information; Reports by Superintendent to Nmls.

Section 1322.40 | Prohibited Acts.

Section 1322.41 | Prohibited Interest in Appraisal Company.

Section 1322.42 | Restrictions Regarding Referrals.

Section 1322.43 | Supervision of Mortgage Loan Originator and Associated Persons; Procedures to Avoid Violations; Remote Work.

Section 1322.45 | Additional Duties of Registrants and Licensees; Recovery of Damages by Buyer.

Section 1322.46 | Disclosures in Advertising.

Section 1322.50 | Disciplinary Actions.

Section 1322.51 | Effect of Child Support Default on Registration or License.

Section 1322.52 | Buyer Civil Action; State Civil Action; Criminal Prosecution.

Section 1322.55 | Adoption of Rules to Parallel Federal Safe Act.

Section 1322.56 | Adoption of Rules to Comply With Nmls Requirements.

Section 1322.57 | Administrative Rules.

Section 1322.99 | Penalty.