OH SB53

Director of Commerce must develop a residential foreclosure tracking system by rule to track and report foreclosure filings and sheriff sales for each county in Ohio.

Tracking system must record the number of residential foreclosure filings by mortgage holders, number of properties with confirmed sheriff sales, and property types including single-family homes, condominiums, two-to-four unit properties, and multifamily properties with more than four units.

Each residential property must be assigned a unique tracking number by the clerk of courts when a mortgage holder files a foreclosure action, excluding tax foreclosures.

Director must prepare an annual report based on the tracking system and publish it on the Department of Commerce website, including statewide and county-level data on foreclosure filings, confirmed sales, and property types.

Clerks of courts must submit quarterly reports to the Director of Commerce containing residential foreclosure filing and sales confirmation data for their jurisdictions.