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| To enact sections 121.086 and 2303.32 of the Revised | 1 |
| Code to require the Director of Commerce to | 2 |
| establish a residential foreclosure tracking | 3 |
| system and prepare an annual report on residential | 4 |
| foreclosure filings and sales in each county. | 5 |
| Section 1. That sections 121.086 and 2303.32 of the Revised | 6 |
| Code be enacted to read as follows: | 7 |
| Sec. 121.086. (A) The director of commerce shall develop by | 8 |
| rule a residential foreclosure tracking system for tracking and | 9 |
| reporting the following information for residential foreclosures | 10 |
| in each county in this state: | 11 |
| (1) The number of residential foreclosure filings made by | 12 |
| mortgage holders; | 13 |
| (2) The number of residential properties for which a court of | 14 |
| common pleas has confirmed a sale by a county sheriff pursuant to | 15 |
| an order of sale; | 16 |
| (3) The type of each residential property reported under | 17 |
| divisions (A)(1) and (2) of this section, to include single family | 18 |
| homes (including manufactured and mobile homes), an individually | 19 |
| owned unit in a condominium development, residential properties | 20 |
| with two to four separate living units, and multifamily properties | 21 |
| that contain more than fourseparate living units. | 22 |
| (B) The director shall establish the tracking system to be | 23 |
| based on a unique tracking number that a clerk of courts assigns | 24 |
| to a residential property at the time a mortgage holder files for | 25 |
| a foreclosure action on that property. At the time of filing, the | 26 |
| clerk shall confirm that the foreclosure action is filed by a | 27 |
| mortgage holder and is not a tax foreclosure filing. The clerk | 28 |
| also shall record the type of residential property for which each | 29 |
| filing is made. | 30 |
| (C) The director annually shall prepare a report based on the | 31 |
| residential foreclosure tracking system and make that report | 32 |
| available on the department of commerce web site. The report shall | 33 |
| include for each county and for the state the number of | 34 |
| foreclosure filings that mortgage holders have made for | 35 |
| residential properties, the number of residential properties | 36 |
| foreclosed by a mortgage holder for which a court confirmed a sale | 37 |
| by the sheriff at auction, and the types of residential properties | 38 |
| that are the subject of these foreclosure filings and sales. | 39 |
| (D) As used in this section, "residential property" means a | 40 |
| structure intended to serve as living quarters for human | 41 |
| habitation or a structure that contains separate living quarters | 42 |
| intended for human habitation. "Residential property" does not | 43 |
| include a transitory residence such as a hotel, hospital, or | 44 |
| college dormitory. | 45 |
| Sec. 2303.32. (A) When a mortgage holder makes a | 46 |
| foreclosure filing on a residential property, the clerk of the | 47 |
| court where the filing is made shall record the information | 48 |
| required under the residential foreclosure tracking system | 49 |
| established pursuant to section 121.086 of the Revised Code. The | 50 |
| clerk shall assign a unique number to each such residential | 51 |
| property in compliance with the tracking system. | 52 |
| (B) The clerk of each court where a foreclosure filing is | 53 |
| made or where a sale of a foreclosed home is confirmed shall | 54 |
| prepare a quarterly report to the director of commerce. The report | 55 |
| shall include the number of residential foreclosure filings made | 56 |
| by mortgage holders and the number of sales of foreclosed | 57 |
| residential properties the court has confirmed, as well as any | 58 |
| other information the director requires for the tracking system. | 59 |
| The clerk shall limit the report to residential properties | 60 |
| foreclosed by mortgage holders and shall not include tax | 61 |
| foreclosures. | 62 |