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House Bill 185 – Ohio launches mortgage broker database

As part of their “get-tough-on-mortgage-brokers” tirade, the Ohio congress last year designed this database of offenders or accused offenders. I tried the search function a few times but, thankfully, I couldn’t find any offenders among my group of trusted mortgage brokers.

Ohio home buyers can now check the enforcement records of mortgage lenders in a database the state launched this year.

The Mortgage Broker Enforcement Action Database, available at

https://www.com.ohio.gov/dfi/fiin_apps/public_enf_lookup/default.aspx , contains administrative enforcement orders, court judgments and actions taken by the Ohio Attorney General against loan officers, mortgage brokers and nonbank mortgage lenders. Data regarding court cases will be updated quarterly.

The database was launched by the Ohio Department of Commerce’s Division of Financial Institutions.

The database was created to fulfill the regulations of the Ohio Homebuyers’ Protection Act, which went into effect Jan. 1.

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copyright 2007-2011 Joe Peffer is a Columbus Realtor and Real estate Broker for RE/MAX Town Center in Columbus, Ohio