[Greg]

One other thing to beware of when lending in Ohio is that lenders are cutting appraisals. Several appraisals that have been done in this state are being cut.

Example: 145k MLS listing and 145k Purchase Contract. Appraised at 145k and cut to 127,900.

Several refinances have been cut.

Ohio also imposed a ban on Stated Loans originated by Mortgage Brokers. SISA, SIVA, NO Ratio, and No Doc.

5% max fees (1%YSP in addition to 5% max)

<75k No PPP Allowed.

Several changes so beware and study the senate bill.

Several lenders are deciding not to lend in Ohio.