1322.071 Prohibited conduct.

(A) As used in this section, “bona fide third party” has the same meaning as in section 1322.08 of the Revised Code.

(B) No mortgage broker, registrant, or licensee shall do any of the following:

(1) Retain original documents provided to the mortgage broker, registrant, or licensee by the buyer in connection with the loan application, including income tax returns, account statements, or other financial related documents;

(2) Receive, directly or indirectly, a premium on the fees charged for services performed by a bona fide third party;

(3) Pay or receive, directly or indirectly, a referral fee or kickback of any kind to or from a bona fide third party or other party with a related interest in the transaction, such as a home improvement builder, real estate developer, or real estate broker or agent, for the referral of business.

Effective Date: 05-02-2002