Effective March 20, 2019, Ohio HB 489 amends the Ohio Residential Mortgage Lending Act (ORMLA) to require a registration for mortgage servicers. Under the amended statute, a “mortgage servicer” is defined as “an entity that, for itself or on behalf of the holder of a mortgage loan, holds the servicing rights, records mortgage payments on its books, or performs other functions to carry out the mortgage holder’s obligations or rights under the mortgage agreement including, when applicable, the receipt of funds from the mortgagor to be held in escrow for payment of real estate taxes and insurance premiums and the distribution of such funds to the taxing authority and insurance company.”