Constructing Courses to Meet Ohio Requirements

There has been some confusion regarding the best way to construct courses for MLOs in OH.  Here are some facts regarding OH and our recommendation for how to construct courses that cover the state’s two statutes:

–          Ohio has two statutes, the Ohio Mortgage Broker Act (OMBA) and the Ohio Mortgage Loan Act (OMLA).

–          The OMBA requires 24 hours of PE (20 hours approved by NMLS and 4 hours approved by NMLS and OH-DFI). The OMLA requires 20 hours of PE (approved by NMLS).

–          The 4 hours of OMBA approved education must be completely devoted to covering Ohio Mortgage Broker Act and Regulations (ORC 1322) (65% of the course) and the Ohio Consumer Sales Practices Act (ORC 1345) (35% of the course).

–          Because the State Component of the MLO SAFE Test also covers OMLA, providers are encouraged to devote 2-3 hours of the 12 hours of electives in a 20 hour course to include instruction on the Ohio Mortgage Loan Act (ORC 1321.51 – 1321.60 and 1321.99) and the Homeowners Equity Protection Act (ORC 1349.25-1349.72).

–          The net effect of providing OMLA education as part of the 20 hour course as well as well as four of education on OMBA as required by OH statute is that an MLO will receive 6-7 hours of OH education to help prepare for the test.

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