R.C. § 1349.41 Prohibited Conduct In Mortgage Loan Sale Or Purchase

• Library: Ohio Statutes
• Edition: 2023
• Currency: Current with legislation from 2024 received as of February 15, 2024.
• Year: 2023
• Citation: R.C. § 1349.41

(A) As used in this section:

(1) "Consumer" means an individual to whom credit is offered or extended primarily for personal, family, or household purposes.

(2) "Lender" means a nonbank mortgage lender as defined in section 1345.01 of the Revised Code. "Lender" does not include a person that purchases or is assigned a loan or that functions solely as the servicer of a loan.

(3) "Mortgage" has the same meaning as in section 1322.01 of the Revised Code.

(B) A lender shall not engage in a transaction, practice, or course of business that is not in good faith or fair dealing, or that operates a fraud upon any person, in connection with the attempted or actual making, purchase, or sale of any mortgage loan.