State Guides
What brokers and loan officers should know about closings and property rules in Ohio, and how Hancock Processing works your files there.
Ohio is a title state. Title agencies typically handle the escrow and conduct the closing, and attorney involvement at closing is not legally required. However, Ohio treats preparing a deed for someone else as the practice of law, so the deed must be prepared or reviewed by an attorney.
No. Ohio is not a community property state, but it is one of the few states that still recognizes dower. A spouse holds a dower interest in real estate the other spouse owns during the marriage, so lenders typically require a non-borrowing spouse to sign the mortgage to release dower, even when they aren't on the loan or the title.
Ohio's good funds law limits what the closing agent can disburse against. Funds generally must arrive electronically, and cash and checks of every kind, including cashier's checks, are accepted only up to a combined $10,000, so a borrower's larger cash to close typically has to be wired.
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Ohio
All of them. We process every loan type we offer in Ohio, including conventional, FHA, VA, USDA, jumbo, Non-QM and DSCR loans, from Columbus, Cleveland and Cincinnati to smaller towns and rural counties.
Yes. We process loans statewide, from the Cleveland, Columbus and Cincinnati metros to smaller towns and rural counties. Our processors coordinate with the title agency on each file, including dower releases.
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