Ohio Revised Code Search

...ity holding a valid letter of exemption under division (B)(1) of section 1322.05 of the Revised Code shall supervise all 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 ...

...or entity holding a letter 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.

...e 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 addi...

... 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...

...operate, 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, destroy, or secrete any books, records, computer records, or other information.

...r identification numbers, financial account numbers, the identity of the institution where financial accounts are maintained, personal financial information, fingerprint cards and the information contained on such cards, and criminal background information, is a public record as defined in section 149.43 of the Revised Code. (C) This section does not prevent the division of financial institutions from releasing to o...

...ator license through any false or fraudulent representation of a material fact or any omission of a material fact required by state law, or make any substantial misrepresentation in any registration or license application; (B) Make false or misleading statements of a material fact, omissions of statements required by state or federal law, or false promises regarding a material fact, through advertising or other mean...

...dition to any of the actions authorized under section 1322.50 of the Revised Code, order the registrant or members of the immediate family of an owner of a registrant to divest their interest in the company.

...t" has the same meaning as in 12 U.S.C. 2602. (B) No registrant or licensee shall refer a buyer to an appraisal company, if the registrant or licensee, a member of the immediate family of an owner of the registrant, or a member of the licensee's immediate family, has either of the following financial relationships with the appraisal company: (1) An ownership or investment interest in the company, whether through de...

...ity holding a valid letter of exemption under this chapter, through its operations manager or otherwise, shall fail to do either of the following: (1) Reasonably supervise a mortgage loan originator or any other person associated with the registrant or entity; (2) Establish reasonable procedures designed to avoid violations of any provision of this chapter or the rules adopted under this chapter, or violations of...

...Safeguard and account for any money handled for the buyer; (2) Follow reasonable and lawful instructions from the buyer; (3) Act with reasonable skill, care, and diligence; (4) Act in good faith and with fair dealing in any transaction, practice, or course of business in connection with the brokering or originating of any residential mortgage loan; (5) Make reasonable efforts to secure a residential mortgage loan...

...registrant shall comply with 12 C.F.R. 226.16, as amended.

...e paid to the treasurer of state to the credit of the consumer finance fund created in section 1321.21 of the Revised Code. In determining the amount of a fine to be imposed pursuant to this division, the superintendent may consider all of the following, to the extent known by the division of financial institutions: (a) The seriousness of the violation; (b) The registrant's or licensee's good faith efforts to pre...

...ode with respect to a certificate or license issued pursuant to this chapter.

... section shall not be less than all compensation paid directly and indirectly to a registrant or mortgage loan originator from any source, plus reasonable attorney's fees and court costs. (3) The buyer may be awarded punitive damages. (B)(1) The superintendent of financial institutions or a buyer may directly bring an action to enjoin a violation of any provision of this chapter. The attorney general may directly...

...ted thereunder, if the "Secure and Fair Enforcement for Mortgage Licensing Act of 2008," 122 Stat. 2810, 12 U.S.C. 5101, as amended, is modified after October 16, 2009, or any regulation, statement, or position is adopted under that act, and the item modified or adopted affects any matter within the scope of this chapter, the superintendent of financial institutions may by rule adopt a similar provision. (B) The s...

...f the following: (A) Payment of nonrefundable fees to apply for, maintain, and renew licenses through the nationwide mortgage licensing system and registry; (B) Renewal or reporting dates; (C) Procedures to amend or to surrender a license; (D) Any other activity necessary for participation in the nationwide mortgage licensing system and registry.

... of the Revised Code, may adopt reasonable rules to administer and enforce this chapter and to carry out the purposes of this chapter.

...t degree. (B) The offenses established under divisions (A) and (B) of section 1322.07 of the Revised Code are strict liability offenses, and section 2901.20 of the Revised Code does not apply. The designation of these offenses as strict liability offenses shall not be construed to imply that any other offense for which there is no specified degree of culpability, whether in this section or another section of the Rev...

...ounts required by proceedings to be deposited in a bond retirement fund for the purpose of paying in any year or fiscal year by mandatory redemption prior to stated maturity the principal of securities that is due and payable, except for mandatory prior redemption requirements as provided in those proceedings, in a subsequent year or fiscal year. (W) "Mandatory sinking fund requirements" means amounts required by p...

...ion 6341 of the Internal Revenue Code, 26 U.S.C. 6431, may be credited to the fund or account in which those proceeds are held, to the fund or account from which debt charges on those public obligations are paid, or to the general fund or other fund or account as the public issuer authorizes, and used for the purposes of that fund or account.

...ble, the limitation on the aggregate amount of qualified school construction bonds that may be issued by the states each calendar year under section 54F of the Internal Revenue Code. (3) "State portion" means the portion of the national limit allocated to this state pursuant to section 54F of the Internal Revenue Code. (B)(1) To provide for the orderly and prompt issuance of qualified school construction bonds, the...

...her provisions of the Revised Code or rules adopted pursuant to those provisions by any agency of the state with respect to investments by them; (2) Eligible as security for the repayment of the deposit of public moneys. (B) Section 9.96 of the Revised Code applies to Chapter 133. securities notwithstanding any other provision in this chapter. (C) A subdivision may enter into an agreement with an agency, including...

...nt obligations of the subdivision under credit enhancement facilities relating to outstanding securities. (B) In calculating the net indebtedness of a subdivision, none of the following securities, including anticipatory securities issued in anticipation of their issuance, shall be considered: (1) Securities issued in anticipation of the levy or collection of special assessments, either in original or refunded form...

...uation, or incur without a vote of the electors net indebtedness that exceeds an amount equal to five and one-half per cent of that tax valuation. (B) In calculating the net indebtedness of a municipal corporation, none of the following securities shall be considered: (1) Self-supporting securities issued for any purposes including, without limitation, any of the following general purposes: (a) Water systems or fa...