Ohio Revised Code Search

..., or otherwise provides the residential contractor with a defect notice pursuant to division (A) of section 1312.04 of the Revised Code.

...the owner sends a notice of defect to a contractor pursuant to section 1312.04 of the Revised Code until the owner has complied with this chapter. (B) If an owner files a dwelling action or commences arbitration proceedings without having complied with this chapter, the court or arbitrator shall dismiss that action or those proceedings without prejudice. The owner may again file a dwelling action or commence arbitra...

...gage industry, and communication with a consumer to obtain information necessary for the processing or underwriting of a residential mortgage loan, to the extent the communication does not include offering or negotiating loan rates or terms or counseling borrows about residential mortgage loan rates or terms. (B) "Advertising" means a commercial message in any medium that promotes, either directly or indirectly, a ...

... that the change is necessary to remain consistent with the purposes intended by the policy and provisions of the "Secure and Fair Enforcement for Mortgage Licensing Act of 2008," 122 Stat. 2810, 12 U.S.C. 5101. Rules authorized by this section shall be adopted in accordance with Chapter 119. of the Revised Code.

...federal banking agency and is owned and controlled by a depository institution; (B) A consumer reporting agency that is in substantial compliance with the "Fair Credit Reporting Act," 84 Stat. 1128, 15 U.S.C. 1681a, as amended; (C) Any political subdivision, or any governmental or other public entity, corporation, instrumentality, or agency, in or of the United States or any state; (D) A college or university, ...

...he owners, officers, or partners having control of the organization or institution; (3) An attestation to all of the following: (a) That the organization or institution and its owners, officers, or partners identified in division (A)(2) of this section have not had a credit union service organization registration or license, mortgage banker license, mortgage broker certificate of registration, or mortgage loan ori...

...ransaction of business as a mortgage lender, mortgage servicer, or mortgage broker in this state without first having obtained a certificate of registration from the superintendent of financial institutions for the principal office and every branch office to be maintained by the person for the transaction of business as a mortgage lender, mortgage servicer, or mortgage broker in this state. (2) A registrant shall ...

...he owners, officers, or partners having control of the applicant, including all of the following: (a) In the case of a sole proprietor, the name and address of the sole proprietor; (b) In the case of a partnership, the name and address of each partner; (c) In the case of a corporation, the name and address of each shareholder owning five per cent or more of the corporation; (d) In the case of any other entity...

...clusion of the investigation required under division (B) of section 1322.09 of the Revised Code, the superintendent of financial institutions shall issue a certificate of registration to the applicant if the superintendent finds that the following conditions are met: (1) The application is accompanied by the application fee and any fee required by the nationwide mortgage licensing system and registry. (a) If a ...

...le for the management, supervision, and control of a particular registrant. (B) To be eligible for such a designation, an employee or owner shall have at least three years of experience in the residential mortgage and lending field including experience as a mortgage loan originator, registered mortgage loan originator, or other experience related to the business of residential mortgage lending that the superintende...

...r this chapter in order to obfuscate or conceal the true ownership or control of the registrant, exemption holder, or applicant.

...essary to determine whether any fact or condition exists that, if it had existed at the time of the original application for a certificate of registration, the fact or condition would have warranted the division to deny the application under section 1322.10 of the Revised Code. If such a fact or condition is found, the division may, in accordance with Chapter 119. of the Revised Code, revoke the registrant's certific...

...ion during which they have direct buyer contact, and shall be subject to all fair conduct and prohibition requirements in their dealing with buyers.

...four hours of pre-licensing instruction consisting of all of the following: (a) Twenty hours of instruction in an approved education course; (b) Four hours of instruction in a course or program of study reviewed and approved by the superintendent concerning Ohio lending laws and the Ohio consumer sales practices act, Chapter 1345. of the Revised Code, as it applies to registrants and licensees. (2) If an applic...

...clusion of the investigation required under division (C) of section 1322.20 of the Revised Code, the superintendent of financial institutions shall issue a mortgage loan originator license to the applicant if the superintendent finds that the following conditions are met: (1) The application is accompanied by the application fee and any fee required by the nationwide mortgage licensing system and registry. (a) ...

...related to mortgage origination, fraud, consumer protection, and the nontraditional mortgage marketplace, and fair lending issues. (B) An individual shall not be considered to have passed the written test unless the individual answers at least seventy-five per cent of the questions correctly. (C) An individual may retake the test three consecutive times provided the period between taking the tests is at least thirt...

... reviewed and approved by the superintendent of financial institutions. The course or program of study shall include all of the following: (1) Three hours of applicable federal law and regulations; (2) Two hours of ethics, which shall include instruction on fraud, consumer protection, and fair lending issues; (3) Two hours of training related to lending standards for non-qualified mortgages, as defined in 12 C.F.R...

... business of a mortgage loan originator conducted at the principal office, any branch office, or other location used by the individual mortgage loan originator. (B) If a mortgage loan originator's employment or association is terminated for any reason, the licensee may request the transfer of the license to another registrant by submitting a transfer application, along with a fifteen-dollar fee and any fee required...

...ter of exemption under this chapter may contract for and receive interest at any rate or rates agreed upon or consented to by the parties to the residential mortgage loan, but not exceeding an annual percentage rate of twenty-five per cent.

...bond shall be in favor of the superintendent of financial institutions and in the penal sum of one-half per cent of the aggregate loan amount of residential mortgage loans originated in the immediately preceding calendar year, but not exceeding one hundred fifty thousand dollars. Under no circumstances, however, shall the bond for mortgage lenders and mortgage brokers be less than fifty thousand dollars and an additi...

...uperintendent 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...

...nvestigation conducted by the superintendent of financial institutions under this chapter, shall knowingly do any of the following: (A) Circumvent, interfere with, obstruct, or fail to cooperate, including making a false or misleading statement, failing to produce records, or intimidating or suborning any witness; (B) Tamper with, alter, or manufacture any evidence; (C) Withhold, abstract, remove, mutilate, destr...

...A)(1) The following information is confidential: (a) Examination information, and any information leading to or arising from an examination; (b) Investigation information, and any information arising from or leading to an investigation. (2) The information described in division (A)(1) of this section shall remain confidential for all purposes except when it is necessary for the superintendent of financial institut...

...ertising or other means, or engage in a continued course of misrepresentations; (C) Engage in conduct that constitutes improper, fraudulent, or dishonest dealings; (D) Fail to notify the division of financial institutions within thirty days after any of the following: (1) Being convicted of or pleading guilty or nolo contendere to a felony in a domestic, foreign, or military court; (2) Being convicted of or plea...

... an owner of a registrant, shall own or control a majority interest in an appraisal company. (B) Division (A) of this section shall not apply to any registrant, or any member of the immediate family of an owner of a registrant, who, on January 1, 2010, directly or indirectly owns or controls a majority interest in an appraisal company. However, such ownership or control is subject to the following conditions: (1) T...