Ohio Revised Code Search

...the requirements of the nationwide mortgage licensing system and registry. The application shall be accompanied by a nonrefundable application fee of seven hundred dollars for each location of an office to be maintained by the applicant in accordance with division (A) of section 1322.07 of the Revised Code and any additional fee required by the nationwide mortgage licensing system and registry. (2) The application ...

...any fee required by the nationwide mortgage licensing system and registry. (a) If a check or other draft instrument is returned to the superintendent for insufficient funds, the superintendent shall notify the applicant by certified mail, return receipt requested, that the application will be withdrawn unless the applicant, within thirty days after receipt of the notice, submits the application fee and a one-hundr...

...istrant's business as the operations manager. The operations manager shall be responsible 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 e...

...No person shall acquire, sell, transfer, or hypothecate any interest in a registrant, or an entity holding a letter of exemption issued under this chapter, or an applicant for a certificate of registration under this chapter in order to obfuscate or conceal the true ownership or control of the registrant, exemption holder, or applicant.

...(A) A registrant that is a corporation, limited liability company, partnership, trust, or other business entity or association shall notify the division of financial institutions of every sale, transfer, or hypothecation of any stock, security, membership, partnership, or other equitable, beneficial, or ownership interest in the entity or association, if the interest represents at least a five per cent membership, pa...

...of potential buyers to residential mortgage lenders or mortgage brokers, or solely to match buyers with residential mortgage lenders or mortgage brokers through a computerized loan origination system recognized by the United States department of housing and urban development, shall be required to make only those disclosures under this chapter that apply to the portion of the transaction during which they have direct ...

... An application for a license as a mortgage loan originator shall be in writing, under oath, and in a form prescribed by the superintendent of financial institutions that complies with the requirements of the nationwide mortgage licensing system and registry. The application shall be accompanied by a nonrefundable application fee of two hundred dollars and any additional fee required by the nationwide mortgage licens...

...nancial 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) If a check or other draft instrument is returned to the superintendent for insufficient funds, the superintendent shall n...

...Each applicant for a mortgage loan originator license shall submit to a written test that is developed and approved by the nationwide mortgage licensing system and registry and administered by an approved test provider. (A) The test shall adequately measure the applicant's knowledge and comprehension in appropriate subject areas, including ethics, federal and state law related to mortgage origination, fraud, consu...

...ending standards for non-qualified mortgages, as defined in 12 C.F.R. 1026.43, or the nontraditional mortgage product marketplace. (B) Continuing education courses shall be reviewed and approved by the nationwide mortgage licensing system and registry based upon reasonable standards. (C) The following conditions shall apply to the continuing education required by this section: (1) An individual cannot take the sam...

... 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 license to another registrant by submitting a transfer application, along with a fifteen-dollar fee ...

... by the parties to the residential mortgage loan, but not exceeding an annual percentage rate of twenty-five per cent.

...gregate 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 additional penal sum of ten thousand dollars for each location, in excess of one, at which the registrant conducts business. The...

...r 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...

...No person, in connection with any examination or investigation 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...

...in which a registrant or licensee is engaged, or has applied to engage in, to the extent that the regulator has jurisdiction over a registrant or licensee engaged in that business activity. A registrant or licensee is engaged in a business activity, and a regulator of that business activity has jurisdiction over the registrant or licensee, whether the registrant or licensee conducts the activity directly or a subsidi...

...n a certificate of registration or mortgage loan originator 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 regar...

...(A) Except as otherwise provided in division (B) of this section, no registrant, or any member of the immediate family of 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 maj...

...(A)(1) No registrant or licensee or person required to be registered or licensed under this chapter shall refer a buyer to any settlement service provider, including any title insurance company, that has an affiliated business arrangement with the registrant, licensee, or person without providing the buyer with written notice as required by rule adopted by the superintendent. (2) As used in division (A)(1) of this s...

...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 applicable state and federal consumer and len...

... or originating of any residential mortgage loan; (5) Make reasonable efforts to secure a residential mortgage loan, from lenders with whom the registrant, licensee, or person regularly does business, with rates, charges, and repayment terms that are advantageous to the buyer. (B) Division (A) of this section shall not apply to wholesale lenders. However, wholesale lenders are subject to all other requirements appl...

...(A) A registrant or mortgage loan originator shall disclose in any printed, televised, broadcast, electronically transmitted, or published advertisement relating to the registrant's or mortgage loan originator's services, including on any electronic site accessible through the internet, the business name of the registrant or mortgage loan originator and the unique identifier of the registrant or mortgage loan origina...

...f a certificate of registration or mortgage loan originator license, or any comparable authority, in any governmental jurisdiction. (2) Impose a fine of not more than one thousand dollars, for each day a violation of a law or rule is committed, repeated, or continued. If the registrant, letter of exemption holder, or licensee engages in a pattern of repeated violations of a law or rule, the superintendent may impos...

...On receipt of a notice pursuant to section 3123.43 of the Revised Code, the division of financial institutions shall comply with sections 3123.41 to 3123.50 of the Revised Code and any applicable rules adopted under section 3123.63 of the Revised Code with respect to a certificate or license issued pursuant to this chapter.

... may bring an action for recovery of damages. (2) Damages awarded under division (A)(1) of this 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...

... in the schedules of assessments and damages by mail and by publication, as provided in sections 6131.01 to 6131.64 of the Revised Code. The notice shall be the same as the notice given when the schedules are filed with the clerk of the board of county commissioners, except that the notice shall state the date and time of the hearing in the court of common pleas, and proof of the notice shall be made by the certifica...

...or refusing to allow compensation or damages, the owners interested shall have the right of trial by jury. The jury may view the premises, as in other civil cases.

...s on the question of compensation or damages or if there are issues as to different properties, the court may submit all the several claims and issues to the same jury, with appropriate verdicts as to each claim. The court also may direct separate trials for the separate claims and issues. The court shall instruct the jury that it shall not consider or deduct the value of any benefits that such land will receive from...

...lants, on claims for compensation or damages, do not recover a judgment for more than the amount of compensation or damages awarded by the board of county commissioners, the costs on the hearing as to compensation or damages on appeal shall be taxed against the appellants. If the amount recovered is greater than the amount awarded by the board, the costs shall be taxed against the county. The prosecuting attorney s...

...mit the schedules of assessments and damages to the county auditor. The board of county commissioners and the county engineer shall proceed with letting contracts and constructing the improvement, and the county auditor shall proceed to levy and collect assessments and to pay compensation and damages as if no appeal had been taken. If an appeal is filed pursuant to section 6131.25 of the Revised Code, the board and t...

...sum shall be paid into the general drainage improvement fund.

...The county engineer shall prepare the documents as specified in section 6131.24 of the Revised Code. If the improvement requires both labor and material that is used in and remains a part of the improvement, the bids referred to in section 6131.37 of the Revised Code shall state separately the bidder's offer upon each and for each bid item indicated on the form. If the plans or specifications do not name a specific g...

...y find will be more economical or advantageous than the aggregate bid of a single bidder, but no bid shall be accepted for any part or thing that exceeds the estimate of the engineer unless only by such acceptance can a contract for the completion of an entire improvement be let for less than the aggregate estimate of the total improvement. If it is found that all bids for work and material, or all bids for any sepa...

...The acceptance of the bids in accordance with section 6131.40 of the Revised Code shall be approved by the board of county commissioners. Upon the acceptance of any bid for the whole or any part of an improvement, the bidder shall within ten days enter into a contract in writing to perform the work or furnish the material bid for as prepared by the county engineer. The board by an order entered on its journal shall r...

...Any owner who is assessed for the construction of any improvement may bring an action to enjoin the payment of any money owed a contractor who has not constructed the work according to the contract and specifications until the contractor has constructed the improvement according to the contract and specifications. The remedies provided in this section are in addition to all other remedies provided by law.

...location, engineering, compensation, damages, and contingency and the assessment for maintenance for one year, shall be levied upon each parcel of land, each public corporation, and each department, office, or institution of the state as stated in the schedules as of the date of the order of the board approving the contracts and ordering the levying of the assessments. (B) The auditor shall notify the owners of al...

...zed extensions of time as liquidated damages from any money due or to become due the contractor or his bondsmen unless the extension of time is due to an unforeseeable cause beyond the control and without the fault or negligence of the contractor.

...All work on an improvement and all materials furnished for use therein shall be under the supervision and inspection of the county engineer or a deputy appointed by him for the purpose. All material furnished under the specifications and contract shall be inspected by him before use and within a reasonable time after the same is delivered and placed upon the line of the improvement or such other place as is designate...

...not conform with the design of the drainage improvement for removal and replacement or repair as the engineer considers necessary. (B) If the county engineer determines that the culverts and bridges were adequate in capacity or vertical and horizontal alignment at the time of their installation, the removal and replacement shall be made at the expense of the project less any costs, which shall be apportioned by the...

...provide and establish the "general drainage improvement fund," to be used as a sinking fund for all bonds issued under sections 6131.01 to 6131.64, inclusive, of the Revised Code. (B) The fund may consist of any of the following: (1) Any taxes levied and collected for ditch and drainage purposes under county levies, not by law otherwise disposed of; (2) The proceeds of all bonds issued and sold under sections ...

...ment, may be paid from the general drainage improvement fund. (B) The letting and approving of any contract for an improvement shall be considered a specific appropriation of the amount of the obligation, and that amount shall be set apart for the purpose of the payment and contingently charged against the fund. If at any time the fund contains the proceeds of bonds or notes issued and sold under such sections, th...

...x shall be credited to the general drainage improvement fund. (B) For the purposes of this chapter and Chapters 6133., 6135., and 6137. of the Revised Code, the board of county commissioners may levy a tax under division (X) of section 5705.19 of the Revised Code upon all of the property listed and assessed for taxation in the county. In addition to the actions required under section 5705.19 of the Revised Code, th...

...The board of township trustees of a township to which is apportioned by the board of county commissioners a portion of the expenses of the construction of an improvement shall levy annually upon the grand duplicate of the township a tax sufficient to pay said apportionment, but not to exceed five tenths of one mill on a dollar, and shall certify this to the county auditor on or before the fifteenth day of May in each...

...If it is a party to an improvement under sections 6131.01 to 6131.64, inclusive, of the Revised Code, the board of education of a school district interested in land granted by congress for the support of public schools, unless such land has been permanently leased, and of a school district owning or holding other land for school purposes, when an assessment is made upon said land under such sections, shall pay for su...

...he owner's lands, to recover for any damages sustained, or for compensation for any property taken. (B) The board may plead and prove the value of any actual benefit to the land by reason of the improvement. (C) The rights granted by this section shall be in addition to all other rights provided by law.

...The fees to be charged and collected for services required of any public officer under sections 6131.01 to 6131.64, inclusive, of the Revised Code, if not specifically otherwise designated, shall be the fees allowed for like services in that office. If he is an officer receiving a salary, then such fees collected shall be in a like manner accounted for. Publication of notices as required in such sections shall be pa...

...When an improvement consisting of a ditch, drain, or watercourse has been established and constructed or used for seven years or more, it shall be considered to be a public watercourse notwithstanding any error, defect, or irregularity in the location, establishment, or construction thereof, and the public shall have and possess in and to any such watercourse that has thus been constructed or used for seven years the...

...nd that will be taken, benefited, or damaged by the improvement petitioned for, the clerk of the board of county commissioners shall notify the judge of the court of common pleas of the county who shall within ten days appoint as many disinterested owners of the county as are necessary to take the place of the interested members. The appointees shall perform all the duties of the disqualified members and may receive ...

...In any hearing provided for in sections 6131.01 to 6131.64, inclusive, of the Revised Code, before a board of county commissioners, at which testimony to determine any fact is to be received, an oath as in trials in the court of common pleas shall be administered to all witnesses before they testify. Such oath may be administered by the president of the board.

...o construct and pay the costs of a drainage improvement that will benefit the land of the owners, they may enter into a written agreement for the construction of the improvement, which may include each owner constructing part of the improvement. (B) The owners shall file the agreement and the plan and schedules for construction of the proposed improvement with the clerk of the board of county commissioners of the...