(A) No title insurance agent shall do any of the following in connection with a mortgage loan of seventy-five thousand dollars or less:

Terms Used In Ohio Code 3953.35

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Title insurance: means insuring, guaranteeing, or indemnifying owners of real property or others interested in real property against loss or damage suffered by reason of liens or encumbrances upon, defect in, or the unmarketability of the title to the real property, guaranteeing, warranting, or otherwise insuring by a title insurance company the correctness of searches relating to the title to real property, or doing any business in substance equivalent to any of the foregoing. See Ohio Code 3953.01

(1) Knowingly coerce or wrongfully instruct the consumer to enter into the loan;

(2) Knowingly fail to disclose to the consumer that the consumer does not have to close on the loan;

(3) Knowingly make a material misrepresentation to the consumer regarding the terms of the loan.

(B) A violation of this section is deemed an unfair and deceptive act or practice in violation of section 1345.02 of the Revised Code.

Last updated April 7, 2022 at 2:37 PM

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