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Dreher Tomkies LLP
Attorneys at Law
2750 Huntington Center
41 South High Street
Columbus, Ohio 43215
Telephone (614) 628-8000
Fax (614) 628-1600



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OHIO MORTGAGE LENDING AND BROKERING RULES FINALIZED

The Ohio Division of Financial Institutions filed final rules implementing amendments to the Ohio Mortgage Loan Act, Ohio Mortgage Broker Act and Ohio Home Equity Protection Act enacted as part of S.B. No. 185 effective January 1, 2007.

The new rules took effect June 1, 2007. The rule under the Ohio Mortgage Loan Act deals with points and prepayment penalties on real-estate and non-real estate secured loans. The two rules under the Home Equity Protection Act deal with consumer credit counseling and the electronic database maintained by the Department of Commerce.

The remaining 19 new rules implement amendments to the Ohio Mortgage Broker Act and deal with licensing, registration, recordkeeping, operations managers, disclosure requirements, continuing education, appraisals and related issues. The new rules address many practical considerations relating to the statutory requirements.

Please contact us if you are interested in more information on the new rules.

  • Jeff Langer and Elizabeth Anstaett

OHIO LEGAL DEVELOPMENTS UPDATE SERVICE

The Firm monitors bills introduced in the Ohio General Assembly, regulatory changes in Ohio and reported case law developments that affect our financial institution and finance company clients. We offer a service that provides clients with information on these legal developments as they occur. You tell us what types of developments are of interest to you and how you want to receive the information.

We can advise you of legislative, regulatory and case law developments on topics selected by you. We can advise you of bills introduced or regulations proposed and the progress of such bills and regulations, or we can advise you only of enacted legislation and adopted regulations. We can provide the requested information by regular mail or by e-mail, or both.

If you are interested in more information on this service please e-mail or call Elizabeth Anstaett at eanstaett@dltlaw.com, 614-628-1604.

  • Jeff Langer and Elizabeth Anstaett