Ohio § 1322.34

§ 1322.34.

(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.