Ohio Rev. Code » Chapter 1322 - Ohio Revised Code | Ohio Laws

Ohio Rev. Code § 1322.40

Prohibited acts

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Effective:
March 20, 2019
Latest Legislation:
House Bill 489 - 132nd General Assembly
PDF:
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No registrant, licensee, or person required to be registered or licensed under this chapter, or individual disclosed in an application as required by this chapter, shall do any of the following:

(A) Obtain a certificate of registration or mortgage loan originator license through any false or fraudulent representation of a material fact or any omission of a material fact required by state law, or make any substantial misrepresentation in any registration or license application;

(B) Make false or misleading statements of a material fact, omissions of statements required by state or federal law, or false promises regarding a material fact, through advertising or other means, or engage in a continued course of misrepresentations;

(C) Engage in conduct that constitutes improper, fraudulent, or dishonest dealings;

(D) Fail to notify the division of financial institutions within thirty days after any of the following:

(1) Being convicted of or pleading guilty or nolo contendere to a felony in a domestic, foreign, or military court;

(2) Being convicted of or pleading guilty or nolo contendere to any criminal offense involving theft, receiving stolen property, embezzlement, forgery, fraud, passing bad checks, money laundering, breach of trust, dishonesty, or drug trafficking, or any criminal offense involving money or securities, in a domestic, foreign, or military court;

(3) Having a mortgage lender, mortgage servicer, or mortgage broker certificate of registration or mortgage loan originator license, or any comparable authority, revoked in any governmental jurisdiction.

(E) Knowingly make, propose, or solicit fraudulent, false, or misleading statements on any mortgage loan document or on any document related to a mortgage loan, including a mortgage application, real estate appraisal, or real estate settlement or closing document. For purposes of this division, "fraudulent, false, or misleading statements" does not include mathematical errors, inadvertent transposition of numbers, typographical errors, or any other bona fide error.

(F) Knowingly instruct, solicit, propose, or otherwise cause a buyer to sign in blank a mortgage related document;

(G) Knowingly compensate, instruct, induce, coerce, or intimidate, or attempt to compensate, instruct, induce, coerce, or intimidate, a person licensed or certified under Chapter 4763. of the Revised Code for the purpose of corrupting or improperly influencing the independent judgment of the person with respect to the value of the dwelling offered as security for repayment of a mortgage loan;

(H) Promise to refinance a loan in the future at a lower interest rate or with more favorable terms, unless the promise is set forth in writing and is initialed by the buyer;

(I) Engage in any unfair, deceptive, or unconscionable act or practice prohibited under sections 1345.01 to 1345.13 of the Revised Code.
Notes of Decisions
Cited in 10 cases (10 in the last 5 years), 2021–2025 · leading case: Vranches v. PHH Mortgage Corporation
Sort: Relevance Newest Treatment
Vranches v. PHH Mortgage Corporation (2025) ohnd · cites it 45× “Plaintiffs’ Claims Under the RMLA Plaintiffs also assert claims under two provisions of the RMLA, O.R.C. § 1322.40 and O.R.C. § 1322.45. Section 1322.”
Steele v. Community Loan Servicing, LLC (2024) ohsd · cites it 25× “This is because the RMLA provides distinct causes of actions to parties injured by violations of § 1322.40, on the one hand, and § 1322.45, on the other.”
Guzman v. USAA Federal Savings Bank (2024) ohnd · cites it 21× “Count Five: RMLA Violation Against Nationstar Lastly, Plaintiff raises a state law claim under the Residential Mortgage Lending Act, Ohio Revised Code §§ 1322.40 and 1322.45, against Nationstar.”
Ruckman v. PHH Mortgage Corporation (2022) ohnd · cites it 4× “] Ohio Rev. Code § 1322.40. A registrant must, “in addition to duties imposed by other statutes or common law,” inter alia: (1) Safeguard and account for any money handled for the buyer; (2) Follow reasonable and lawful instructions from the buyer; (3) Act with reasonable skill,…”
Mulkey v. RoundPoint Mortgage Servicing Corporation (2021) ohnd · cites it 3× “Ohio Rev. Code Ann. § 1322.40 (B). Additionally, the statute states an entity cannot "engage in conduct that constitutes improper, fraudulent, or dishonest dealings.”
Adegunju v. DHI Mortgage Company, Ltd. (2025) ohsd · cites it 3× “) At this stage of the case, without the benefit of briefing, the Undersigned finds that Plaintiff sufficiently alleged a breach of contract claim and violations of O.R.C. § 1322.40 and 15 § U.S.C. 1692(e) against Defendant DHI, and a breach of contract claim and violation of 15…”
Guzman v. USAA Federal Savings Bank (2024) ohnd · cites it 2× “Plaintiff failed to properly plead a claim under the Residential Mortgage Lending Act (“RMLA”) codified at R.C. § 1322.40(B). (Doc. 27, at 3). Nationstar asserts all the elements under 28 U.”
Becker v. PennyMac Loan Services, LLC (2022) ohsd · cites it 2× “And, as Becker notes, the Act’s prohibitions, which are set out at Ohio Rev. Code § 1322.40, apply to any “registrant, licensee, or person required to be registered or licensed under this chapter.”
Hanover v. Real Time Resolutions, Inc. (2024) ohsd · cites it 2× “Ohio Rev. Code § 1322.40(C). Similar to the FDCPA claim, Plaintiff’s RMLA claim is predicated on the debt being time barred.”
Poulton v. Specialized Loan Servicing, LLC (2023) ohnd “) The RMLA states that an entity covered under the Act cannot make false or misleading statements of material facts or false promises regarding a material fact.”
— Ohio Rev. Code § 1322.40(B) — 2 cases
Guzman v. USAA Federal Savings Bank (2024) ohnd “Count Five: RMLA Violation Against Nationstar Lastly, Plaintiff raises a state law claim under the Residential Mortgage Lending Act, Ohio Revised Code §§ 1322.40 and 1322.45, against Nationstar.”
Guzman v. USAA Federal Savings Bank (2024) ohnd “Plaintiff failed to properly plead a claim under the Residential Mortgage Lending Act (“RMLA”) codified at R.C. § 1322.40(B). (Doc. 27, at 3). Nationstar asserts all the elements under 28 U.”
— Ohio Rev. Code § 1322.40(C) — 5 cases
Steele v. Community Loan Servicing, LLC (2024) ohsd “This is because the RMLA provides distinct causes of actions to parties injured by violations of § 1322.40, on the one hand, and § 1322.45, on the other.”
Guzman v. USAA Federal Savings Bank (2024) ohnd “Count Five: RMLA Violation Against Nationstar Lastly, Plaintiff raises a state law claim under the Residential Mortgage Lending Act, Ohio Revised Code §§ 1322.40 and 1322.45, against Nationstar.”
Vranches v. PHH Mortgage Corporation (2025) ohnd “Plaintiffs’ Claims Under the RMLA Plaintiffs also assert claims under two provisions of the RMLA, O.R.C. § 1322.40 and O.R.C. § 1322.45. Section 1322.”
Hanover v. Real Time Resolutions, Inc. (2024) ohsd “Ohio Rev. Code § 1322.40(C). Similar to the FDCPA claim, Plaintiff’s RMLA claim is predicated on the debt being time barred.”
Poulton v. Specialized Loan Servicing, LLC (2023) ohnd “) The RMLA states that an entity covered under the Act cannot make false or misleading statements of material facts or false promises regarding a material fact.”
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