We will be discontinuing the use of Cx12271 – OH Business Relationship Disclosure Notice, and using Cx11413, Affiliated Business Arrangement Disclosure Statement in its place. Cx12271 was originally required by Ohio Code Ann § 1322.075 and Ohio Code Ann § 1301:8-7-25. OH Code Ann §1322.075 was renumbered as OH Code Ann §1322.42 and Ohio Admin Code 1301:8-7-25 was rescinded as of January 4, 2016.
Ohio loans are still required to have a disclosure of affiliated businesses. Ohio Code Ann §1322.42 states that “No registrant or licensee or person required to be registered or licensed under this chapter shall refer a buyer to any settlement service provider, including any title insurance company, that has an affiliated business arrangement with the registrant, licensee, or person without providing the buyer with written notice as required by rule adopted by the superintendent.” Cx11413, the federal form for disclosure of affiliated businesses, satisfies these requirements, making Cx12271 obsolete.
These changes will be in effect on September 28, 2021 and are available for testing on Stage Servers. If you have any questions or concerns, please contact Client Support at 1.800.497.3584.