BancOhio' s regulators require that records of all applicants be kept for years even if the application isn't finalized and closed. BancOhio maintains records in accordance with our approved Red Flags policy and QA/QC plan to prevent identity theft and fraud. All
documentation is locked and secured and always shredded on site by an authorized disposal company. Any and all unnecessary financial information will be disposed of in a secure manner
*** required BancOhio to obtain credit card information for appraisal payment with applicant authorization which BancOhio obtained. BancOhio had no influence regarding the cost of the appraisal nor was BancOhio compensated in any way for ordering the appraisal. BancOhio was required to enter the information into the appraisal portal and that was the extent of BancOhio's involvement in the appraisal process. It is unclear where the information for the "appraisal rate being charge by other lenders" was obtained but the cost for this appraisal was within the range we typically see. The appraisal management company (***) did mention that the appraiser considered this a complex appraisal which may have influenced the cost somewhat
I would like to know the names of BancOhio's "regulators?" 4 years seems to be an unreasonable length of time to keep a NON customer's personal financial information. We are especially concerned because of BancOhio's questionable business practices e.g. having us apply for a 5 year ARM then trying to push us into a higher rate 7 year ARM.
I am not certain whether BancOhio received compensation from [redacted] for the appraisal or not. However, I received appraisal quotes of $250.00 from [redacted], [redacted] and [redacted]. The final appraisal fee we paid to our selected lender was $250.00. There was no mention in the appraisal report of our property being a "complex" appraisal.
BancOhio' s regulators require that records of all applicants be kept for years even if the application isn't finalized and closed. BancOhio maintains records in accordance with our approved Red Flags policy and QA/QC plan to prevent identity theft and fraud. All
documentation is locked and secured and always shredded on site by an authorized disposal company. Any and all unnecessary financial information will be disposed of in a secure manner
*** required BancOhio to obtain credit card information for appraisal payment with applicant authorization which BancOhio obtained. BancOhio had no influence regarding the cost of the appraisal nor was BancOhio compensated in any way for ordering the appraisal. BancOhio was required to enter the information into the appraisal portal and that was the extent of BancOhio's involvement in the appraisal process. It is unclear where the information for the "appraisal rate being charge by other lenders" was obtained but the cost for this appraisal was within the range we typically see. The appraisal management company (***) did mention that the appraiser considered this a complex appraisal which may have influenced the cost somewhat
I would like to know the names of BancOhio's "regulators?" 4 years seems to be an unreasonable length of time to keep a NON customer's personal financial information. We are especially concerned because of BancOhio's questionable business practices e.g. having us apply for a 5 year ARM then trying to push us into a higher rate 7 year ARM.
I am not certain whether BancOhio received compensation from [redacted] for the appraisal or not. However, I received appraisal quotes of $250.00 from [redacted], [redacted] and [redacted]. The final appraisal fee we paid to our selected lender was $250.00. There was no mention in the appraisal report of our property being a "complex" appraisal.