CSPA

The sections that seem to apply are in the Ohio Revised Code 1345.01 to 1345.13. So says SB185. I only find up to 1345.091.

In the Ohio Revised Code you must go to Section 13 then 1345.01. I have included the law links below.

The list below contains the parts of CSPA that directly speak to mortgage companies. Now all of CSPA applies, but these part are directed to the mortgage industry.

1321.57 Authorized interest and charges
1343.011 Residential mortages; discount points; prepayment and refinancing penalties.
1345.01(H)(J)(K) Definitions section
1345.031 Unconscionable acts or practices concerning residential mortgages
1345.09 (C)(2)Private remedies
1345.091 Liability of assignee or purchaser of mortgage loan for value

SB 117 would have limited damages under CSPA, but it seems to be in limbo at this time. The Ohio House and Senate is suing the Ohio Secretary of State over whether the bill was able to be allowed to be vetoed by the governor. (Look at the article from the Toledo Blade)

I have placed two links to an Ohio Supreme Court recent decision that talks about damages allowed. One from the Ohio Supreme Court and one from a law firm.

I am not sure how we can keep up with how CSPA is being applied. It seems like a moving target that I am not sure how to get my arms around. Any suggestions????