3953.35 Prohibited conduct regarding loans of seventy-five thousand dollars or less.
3953.35 Prohibited conduct regarding loans of seventy-five thousand dollars or less.
(A) No title insurance agent shall do any of the following in connection with a mortgage loan of seventy-five thousand dollars or less:
(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.
Effective Date: 01-01-2007