2021 Oregon Revised Statutes
Chapter 407 - Veterans Loans
Section 407.505 - Loan moneys to be reserved for borrower prior to loan commitment.


(2) Moneys in the Oregon War Veterans’ Fund Direct Commitment Reserve Account shall be reserved as loan proceeds for an applicant under subsection (1) of this section and may not be used for any other purpose unless the applicant cancels the application for the loan prior to receipt of the loan proceeds. [Formerly 407.035; 2005 c.625 §50]

Structure 2021 Oregon Revised Statutes

2021 Oregon Revised Statutes

Volume : 10 - Highways, Military

Chapter 407 - Veterans Loans

Section 407.075 - Purpose; legislative intent.

Section 407.085 - Definitions.

Section 407.087 - Definition of "veteran."

Section 407.090

Section 407.095 - Policy against foreclosure; rules.

Section 407.145 - Purchase and control of property; disbursements to protect security.

Section 407.169 - Escrow accounts; standards; interest; rules.

Section 407.177 - Loan processing and servicing contracts with lending institutions; terms; procedures.

Section 407.195 - Loans not being amortized; identification; notice to borrowers.

Section 407.201 - Required disclosure of credit information and loan terms.

Section 407.205 - Application for loan; amount of loan; limit on number of loans.

Section 407.225 - Processing of loan application; security.

Section 407.275 - Terms of loan to veteran and transferee.

Section 407.285 - Rate of interest payable by certain transferees.

Section 407.315 - Interest rate for veteran’s assumption; variable rate; effect of rate on cash flow; rules.

Section 407.325 - Rate of interest on loans; rules.

Section 407.327 - Department to prescribe fixed or variable interest rates.

Section 407.335 - Rate of interest payable by transferee; limit on transfers; rules.

Section 407.375 - Sale of foreclosed properties; improvement in lieu of down payment; interest rate; redemption of property; rules.

Section 407.385 - Prohibition against using loan for purpose other than farm or home acquisition; prompt use of farm or home as principal residence; extension; exception; penalty.

Section 407.465 - Loan cancellation life insurance.

Section 407.480 - Definitions for ORS 407.480 to 407.490.

Section 407.485 - Agreements for mortgage insurance; terms; amount; required coverage.

Section 407.495 - Oregon War Veterans’ Fund; sources; uses.

Section 407.505 - Loan moneys to be reserved for borrower prior to loan commitment.

Section 407.515 - Oregon War Veterans’ Bond Sinking Account; sources; use.