What must a processor do if she indicates on her business card that she can perform loan origination activities in Ohio?

Indicating on a business card that a processor can perform loan origination activities suggests that the individual is involved in activities that require licensing under Ohio law. In Ohio, individuals who engage in loan origination must hold a valid loan originator license to ensure compliance with regulations designed to protect consumers and maintain industry standards.

By making this statement, the processor is implying that she will engage in activities that are reserved for licensed mortgage loan originators, such as negotiating the terms of a loan or communicating credit-related information. As a result, she is required to have an active loan originator license to legally engage in those activities. Not obtaining the necessary license could lead to legal repercussions and impact consumer trust.

This understanding highlights the importance of proper licensing in maintaining the integrity of the mortgage industry and protecting the interests of consumers engaging in the loan process.