Mortgage Lending

Oregon Revised Statute 86A

Mortgage bankers lend money to fund loans secured by interests in real estate and they either sell or service the loans. Mortgage brokers sell real estate paper for themselves or for others or accept funds from others to invest in real estate paper. Mortgage brokers also make or negotiate mortgage loans. The mortgage lender license permits a company to act as a mortgage banker, mortgage broker or both.

As of September 30, 2011, there were 1,304 licensed mortgage lenders and 3,974 registered loan originators.

Information for consumers

Avoid foreclosure scams
Homeowners having difficulties making their mortgage payments on time or facing foreclosure should beware of foreclosure scams. read more.....

File a complaint
If you have a complaint against a mortgage lender or loan originator, please use our online complaint form. The form may also be printed and mailed or faxed to us. The form is available in both English and Spanish versions.

Check out our consumer alerts and press releases to learn about the actions against fraudulent lenders or events to promote consumer education.

Check on a loan originator
Find out if the loan originator you want to do business with is actively registered and has any enforcement actions. Click here for more information.

Featured links

Help for homeowners facing foreclosure
The Oregon Homeownership Stabilization Initiative will use funding from the U.S. Treasury to deliver programs to help Oregonians prevent foreclosure. Applications for the first program, the Mortgage Payment Assistance Program, will be available in December. Click the links below for more about the initiative and other resources for homeowners facing foreclosure.

Industry information

• General license information
• Law and Consumer Protection for Nonprofits (webinar - 7/20/11)
• Licensing and Compliance Update (webinar)
• NMLS call report information
• NMLS Mortgage Call Report Filing Instructions
• How to authorize a credit report
• Division policy statement
• Required Foreclosure Notice and Loan Modification Request Process (SB 628)
• Translations of mortgage disclosures (HB2188)

Latest news

Important notice: ORS 86A.112(3) requires that each licensee that held a license in 2011 file an annual report related to the licensee’s residential mortgage lending business for that year. This report is in addition to the quarterly mortgage call reports filed in the NMLS. The timing and form of the report were set by administrative rule, located at OAR 441-865-0025. The report for 2011 business practices is due by March 31, 2012.

Each company that held an Oregon mortgage banker/broker license at least one day in 2011 is required to file this report even if the company originated no Oregon loans in 2011 or is no longer licensed.

The division has posted the annual report form on our web site. The form is completed online and must be completed by March 31, 2012. For security purposes, you will need your license number and PIN number to access the report form. For answers to frequently asked questions, including how to find your PIN number, please click here.

New S.A.F.E. Act Rules:
FAQ for Nonprofit Organizations and Government Entities.
read more…

HUD final rules
The U.S. Department of Housing and Urban Development has issued final rules implementing the licensing provisions of the S.A.F.E. Act. read more...