Ohio Rev. Code Ann. § 1345.05(A)(4) & (G) (West 2012) and Ohio Admin. Code 109:4-3-29 (2012) both require an “Informational Document,” published by the Ohio Attorney General (available for download at: http://www.ohioattorneygeneral.gov/Files/Forms/Forms-for-Business-and-Nonprofit/Required-Mortgage-Loan-Disclosure-Forms ) to be available for distribution to consumers when they apply for a mortgage loan.
This document is usually updated at the end of each calendar year, primarily due to changes in the maximum prepayment penalty amount specified in Supra § 1343.011(C)(2). We provide a duplicate of this document as Cx11195 and it will be updated to reflect the current version of the “Informational Document.” Substantial updates include:
1. A change in the amount of the prepayment penalty from $83,894 to $85,080;
2. Changes to dates, such as when the document is updated and the calendar year for which the prepayment penalty amount will be in effect;
3. Inclusion of the contact information for the Consumer Protection Section at the top of the document.
These changes will take effect on May 27, 2013. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.
May 20, 2013