Last November our office sent a bulletin advising of a dispute regarding title report endorsements that arose in Cuyahoga County. At that time, the Ohio Title Insurance Ratings Bureau announced a change to its policy regarding judicial title report forms and strictly forbid the use of title report endorsements previously used in Cuyahoga County.
Cuyahoga County Common Pleas Judge Nancy Margaret Russo recently implemented a new policy requiring something called a Property Status Report Form (“PSRF”) be filed in every foreclosure assigned to her docket. The PSRF was prepared by Judge Russo and has been circulated to creditors’ foreclosure counsel. A copy of the same is included as an attachment to this Bulletin. Failure to file a completed PSRF within twenty (20) days of the filing of the foreclosure may result in a dismissal without prejudice.
The Ohio Title Insurance Ratings Bureau (“OTIRB”) recently announced Preliminary Judicial Reports (“PJR’s”) used in foreclosure cases must adhere to its prescribed format. The OTIRB is an insurance rating bureau that includes among its members most title underwriters doing business in Ohio.