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Section 86A.100 - Definitions. - (1) "Fraud," "deceit" and "defraud" are not limited to common-law...
Section 86A.103 - License required to engage in residential mortgage transactions as mortgage banker or mortgage broker. - (2) For purposes of this section, a person "engages in...
Section 86A.106 - Procedures for licensing; experience required; certification; surety bond or letter of credit; fees; rules. - (2) An applicant for a license, or a managing partner,...
Section 86A.109 - Expiration of initial license; renewal; duration of renewed license; change in personnel; rules. - (2) The director by rule shall establish procedures to renew...
Section 86A.112 - Licensees to keep records; inspection; filing financial reports; rules. - (2) A mortgage banker or mortgage broker shall file financial...
Section 86A.115 - Grounds for denying, suspending, conditioning or revoking license. - (1) Is insolvent, either in the sense that the liabilities...
Section 86A.121 - Cancellation of license or application; application to surrender license. - (a) Has ceased to do business as a mortgage banker...
Section 86A.124 - Supervisory authority of director over mortgage bankers, mortgage brokers and mortgage loan originators; documents exempt from disclosure. - (2)(a) A mortgage loan document the director obtains as part...
Section 86A.127 - Investigations; publicity with respect to violations; cease and desist order. - (1) May make such public or private investigations within or...
Section 86A.130 - Enjoining violations; fine; appointment of receiver; attorney fees; damages to private parties. - (2) The director may include in any action authorized by...
Section 86A.133 - Procedures where assets or capital of mortgage banker or mortgage broker found impaired; involuntary liquidation. - (2) If any mortgage banker or mortgage broker refuses to...
Section 86A.136 - Rules; financial statements. - (2) A financial statement required under ORS 86A.095 to 86A.198...
Section 86A.139 - Notice of orders; hearings on orders. - (a) The applicant or licensee, with respect to orders entered...
Section 86A.142 - Judicial review of orders. - (2) A judgment of a reviewing court under ORS chapter...
Section 86A.145 - Oaths and subpoenas in proceedings before director. - (2) If a person fails to comply with a subpoena...
Section 86A.148 - Copies of documents; fees; rules; effect of certification. - (2) A certificate of the director as to compliance or...
Section 86A.151 - Liability of person that employs mortgage loan originator; recovery of damages; limitations on proceeding; action against bond or letter of credit; attorney fees. - (a) Violates a provision of ORS 86A.200 to 86A.239, except...
Section 86A.154 - Fraud and deceit with respect to mortgage banker or mortgage broker business. - (1) To employ any device, scheme or artifice to defraud;...
Section 86A.157 - Clients’ Trust Account; examination; deposit of funds; interest; rules. - (2) Each mortgage banker or mortgage broker shall file with...
Section 86A.160 - Notice to bank regarding Clients’ Trust Account. - ______________________________________________________________________________ NOTICE OF CLIENTS’ TRUST ACCOUNT To: (name of bank)...
Section 86A.163 - Prohibited advertisements. - (1) Contains any false, misleading or deceptive statement or representation;...
Section 86A.166 - Designation of principal place of business; other offices; change of personnel; registered agent. - (2) If a licensed mortgage banker or mortgage broker intends...
Section 86A.175 - Servicing or collecting mortgage banking loan or mortgage loan by mortgage banker or mortgage broker. - (2) Except as provided in ORS 86A.095 to 86A.198, nothing...
Section 86A.178 - Legislative findings regarding mortgage loan originators; prohibited practice. - (a) The public interest is served by identifying a mortgage...
Section 86A.183 - Prohibited conduct for mortgage bankers, mortgage brokers and mortgage loan originators; conditions affecting employment of mortgage loan originators. - (a) Engage in dishonest, fraudulent or illegal practices or conduct...
Section 86A.186 - Mortgage loan originator criminal records checks; rules. - (2) A person that employs or intends to employ an...
Section 86A.195 - Restrictions on negative amortization loans; verification of borrower income; prepayment penalties. - (b) "Negative amortization loan" does not include: (A) A loan...
Section 86A.196 - Notice of reverse mortgage prohibition in homestead property tax deferral program; summary of terms of reverse mortgage in advertisement or solicitation; annual notice to person with reverse mortgage or to escrow agent, title insura... - (2)(a) In any advertisement, solicitation or communication that a lender...
Section 86A.198 - Materials in languages other than English; requirements. - (a) Communicates or causes to be communicated an advertisement in...
Section 86A.200 - Definitions. - (1) "Depository institution" means a depository institution, as defined in...
Section 86A.203 - License and unique identifier for mortgage loan originator; requirements; exemptions; rules. - (a) Obtaining and maintaining a mortgage loan originator’s license under...
Section 86A.206 - Application for license; information and materials required for application; rules. - (2) In connection with an application under this section, an...
Section 86A.209 - Interim license; findings required. - (1) Is employed by a person that has a valid...
Section 86A.212 - Findings required for issuing license; basis for denial; rules. - (a) Has obtained a unique identifier from the Nationwide Mortgage...
Section 86A.215 - Education and testing requirements for license; education and test providers. - (a) Complete, at a minimum, 20 hours of an approved...
Section 86A.218 - License renewal; expiration; reinstatement; rules. - (a) The licensed mortgage loan originator continues to meet the...
Section 86A.221 - Continuing education requirements for mortgage loan originator; credit allowed. - (a) At a minimum, must include: (A) Three hours devoted...
Section 86A.224 - Denying, suspending, conditioning, revoking or declining to renew license; findings required; order; civil penalty; prohibited activity; criminal liability. - (a) A licensed mortgage loan originator violates a provision of...
Section 86A.227 - Corporate surety bond required; right of action; rules. - (2) The director by rule shall: (a) Prescribe the form...
Section 86A.230 - Contracts or agreements with Nationwide Mortgage Licensing System and Registry and other agencies; information sharing; confidentiality; reports of violations; rules. - (a) Collect and maintain records in connection with an application...
Section 86A.233 - Production of records; investigations, examinations and subpoenas; possession of records; access to records; powers of director; prohibited activities. - (a) Request or require a person that employs a mortgage...
Section 86A.236 - Prohibited activities. - (1) Perform an act as a mortgage loan originator in...
Section 86A.239 - Display of license and unique identifier; rules; report of condition. - (b) The Director of the Department of Consumer and Business...
Section 86A.303 - Definitions. - (1) "Affiliate" means a person who controls, is controlled by...
Section 86A.306 - License requirement; applicability; exceptions; enforcement; rules. - (2) Subsection (1) of this section does not apply to:...
Section 86A.309 - Application for license; requirements; waiver; fee; conditions for issuance and renewal and for denial, revocation or refusal; license term; rules. - (b) The director by rule may require an applicant to...
Section 86A.312 - Licensee’s principal place of business; registered agent; assumed business name. - (2)(a) If a licensee does not maintain a principal place...
Section 86A.315 - Required liquidity, operating reserves and tangible net worth; compliance with federal standards as compliance with requirements; director’s powers to enforce compliance. - (b) A licensee that the Federal National Mortgage Association, the...
Section 86A.318 - Required notices to director; rules. - (A) Relocates or closes the licensee’s principal place of business...
Section 86A.321 - Director’s supervisory authority; examinations; confidentiality. - (a) Each licensee in this state; (b) Any person that...
Section 86A.324 - Duties of mortgage loan servicer; prohibited conduct; rules. - (a) Assess any fee that the person may assess against...
Section 86A.327 - Complaints; director’s power to investigate; confidentiality; exceptions. - (a) Shall notify the person of the complaint, provide a...
Section 86A.330 - Violations; civil penalties; costs of investigation. - (a) Cease and desist from any act that constitutes a...
Section 86A.333 - Additional duties of licensee; required response to borrower’s request for information; account history. - (a) Maintain, until a borrower repays or otherwise satisfies the...
Section 86A.336 - Suspension or removal of licensee’s director or officer. - (b) A director or officer that the Director of the...
Section 86A.339 - Additional duties of mortgage loan servicer; prohibited practices. - (a) Comply with all applicable state and federal laws; (b)...
Section 86A.990 - Criminal penalties for violations of ORS 86A.095 to 86A.198. - (2) Violation of ORS 86A.145 (2) is a Class A...
Section 86A.992 - Civil penalties for violations of ORS 86A.095 to 86A.198. - (2) Notwithstanding subsection (1) of this section, a person who...