Tag Archive: "Ohio"
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Ohio Establishes Cybersecurity Program Affirmative Defense
Through Ohio Senate Bill 220 (the “Act”), the State has established an affirmative defense to a tort action brought against a covered entity because of a data breach.
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Ohio Amends Mortgage Loan Law and Establishes Residential Mortgage Lending Act
Ohio House Bill 199 amends multiple sections of the Ohio Revised Code to create the Ohio Residential Mortgage Lending Act for the purpose of: regulating all non-depository lending secured by residential real estate, limiting the application of the current “Mortgage Loan Law” to unsecured loans and loans secured by other than residential real estate, and modifying an exemption to the Ohio Consumer Installment Loan Act.
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Ohio Loan Prepayment Penalty Adjustment for 2018
The Ohio Department of Commerce announced its annual loan prepayment penalty adjustment for 2018.
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Ohio Amends Required Disclosure at Closing
The Ohio Office of Attorney General, Consumer Protection, amended provisions relating to the required disclosure at closing. These provisions are effective on July 20, 2017.
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Ohio Amends Provisions Regarding Unconscionable Acts or Practices Relating to Residential Mortgages
Ohio has modified provisions regarding unconscionable acts or practices as they relate to residential mortgages.
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Ohio Amends Revised Fiduciary Access to Digital Assets Act
Ohio has enacted provisions amending its Revised Fiduciary Access to Digital Assets Act and has updated its sample Power of Attorney form. These provisions are effective as of April 5, 2017.
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Ohio Amends Provisions Regarding Foreclosures and Escrows
Ohio amended several provisions, including changes to real property foreclosures and escrow transactions. The amended provisions are effective as of April 5, 2017.
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Ohio Issues Correction to Mortgage Loan Prepayment Penalty Adjustment for 2017
The Ohio Department of Commerce has issued a correction to the previously published loan prepayment penalty adjustment for 2017.
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Ohio Mortgage Loan Prepayment Penalty Adjustment for 2017
The Ohio Department of Commerce has issued the loan prepayment penalty adjustment for 2017. This adjustment is based on the annual percentage change in the consumer price index. The adjustment is effective January 1, 2017.
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Ohio Creates the D.O.L.L.A.R. Deed Program
Ohio has created a program which provides a loss mitigation alternative for borrowers in default on their mortgage. This creative program gives those struggling to pay their mortgages an unconventional way to maintain and reclaim rights and possession of their real property. Sections 5315.01, 5315.02, 5315.03, 5315.04, and 5315.05 of the Revised Code create the D.O.L.L.A.R. Deed Program.