Broker Requirements:

(1) $350 non-refundable application fee (per office)

(2) $50,000 Surety Bond for 1st office and $10,000 Surety Bond each for other offices

(3) Must have 3 yrs experience

(4) Fingerprint cards w/ statement regarding to any criminal activity (background check completed)

(5) Must have an office within the state, providing a picture of each location along with the application (if location is in a residence, must provide certified copy of zoning permit authorizing use for commercial purpose)

NOTE:In Ohio, an Operations Manager is considered the person responsible for everyday operations, compliance requirements, and management of the Mortgage Broker business.

Operations Manager Requirements:

(1) Pass exam prior to applying for license

(2) Must provide fingerprints (background check completed)

(3) Six hrs continuing education every year prior to renewing license

(4) Must obtain a Loan Officer license

Loan Officer Requirements:

(1) $100 non-refundable application fee

(2) Provide employment information

(3) Fingerprint cards for background check

(4) $100 annual license renewal fee

(5) Submit 6 hours continuing education every year

Contact Information:

Financial Institutions Division of the Ohio Department of Commerce

77 South High Street, 21st Floor

Columbus, OH 43215-6120

Phone: 614.728.8400

Fax: 614.728.0380

Mortgage Broker Applications, Ken Seaman: 614.644.9573

Loan Officer Applications, Sheila Zoldak: 614.644.9577

Website:http://www.com.state.oh.us/dfi/MortgageBrokers.aspx

Map of Financial Institutions Division of the Ohio Department of Commerce