Loan Officer Standards & Requirements

The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) established requirements for the licensing and registration of all Mortgage Loan Originators (MLOs.) Below you will find the profession requirements needed to become a state-licensed mortgage loan officer, please use the links for additional information on subject matter:

Criminal Background Check – Fingerprints will need to be submitted through NMLS for an FBI criminal background check.

Education – Please see Ohio education requirements below.

Testing – Required to pass National and State components of the SAFE MLO Test.

Credit Report – Applicants will have a credit report run through NMLS.

 

Ohio Pre-Licensure Education Requirements (OMBA)

Ohio requires all new state-licensed MLOs to complete 24 hours of NMLS approved education. Below shows a breakdown of hours needed for each section:

• 3 hours of Federal law and regulations
• 3 hours of ethics, which entails, instruction on fraud, consumer protection, and fair lending issues
• 2 hours of non-traditional mortgage lending
• 12 hours of undefined instruction (electives)
• 4 hours of Ohio OMBA law

Ohio (OMBA) requires 4 hours of instruction on state-specific law; either taking an OH comprehensive course or a state-specific elective course will satisfy this, new MLOs will also be tested on Ohio mortgage-lending law. To get started with your mandatory education requirements please refer to our NMLS approved course.

Please note, only OMBA applicants need to take the additional 4 hours of education. If you are planning to be an OMLA applicant please read requirements further below.

 

Continuing Education Requirements (OMBA)

All active state-licensed MLOs are required to complete at least 8 hours of NMLS approved education yearly.  Below is a break down of sections that must be covered in continuing education:

• 3 hours of Federal law and regulations
• 2 hours of ethics, which entails, instruction on fraud, consumer protection, and fair lending issues
• 2 hours of non-traditional mortgage lending
• 1 hour of undefined instruction (elective)

Please note that MLOs are not able to take the same NMLS approved courses two years in a row, as the NMLS will not count that toward their continuing education requirements. Known as the SAFE Act’s “successive years” rule. Our NMLS approved continuing education makes sure every year we provide you a new course so you never run into this problem.

 

Ohio Pre-Licensure Education Requirements (OMLA)

Ohio requires all new state-licensed MLOs to complete 20 hours of NMLS approved education. Below shows a breakdown of hours needed for each section:

• 3 hours of Federal law and regulations
• 3 hours of ethics, which entails, instruction on fraud, consumer protection, and fair lending issues
• 2 hours of non-traditional mortgage lending
• 12 hours of undefined instruction (electives)

Ohio (OMLA) does not require state-specific law to be taught but MLOs will be tested on Ohio mortgage lending law. To get started with your mandatory education requirements please refer to our NMLS approved course.

 

Continuing Education Requirements (OMLA)

All active state-licensed MLOs are required to complete at least 8 hours of NMLS approved education yearly.  Below is a break down of sections that must be covered in continuing education:

• 3 hours of Federal law and regulations
• 2 hours of ethics, which entails, instruction on fraud, consumer protection, and fair lending issues
• 2 hours of non-traditional mortgage lending
• 1 hour of undefined instruction (elective)

Please note that MLOs are not able to take the same NMLS approved courses two years in a row, as the NMLS will not count that toward their continuing education requirements. Known as the SAFE Act’s “successive years” rule. Our NMLS approved continuing education makes sure every year we provide you a new course so you never run into this problem.