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WBK Industry News - State Regulatory Developments

Ohio Attorney General Changes the Name of a Closing Disclosure

On July 10, 2017, the Ohio Attorney General made revisions to a disclosure required in Ohio in connection with certain residential mortgage loans. In particular, the Ohio Attorney General changed the name of a model disclosure previously called “Closing Disclosure” to “Disclosure of Right Not to Close” in order to avoid confusion with disclosures required under the TILA-RESPA Integrated Disclosure Rule (TRID). The content of the disclosure has not changed. This change went into effect on July 20, 2017.

The entire “Disclosure of Right Not to Close” can be found here: http://www.registerofohio.state.oh.us/pdfs/phn/109$4_NO_314816_20170428_1332.pdf.