OAR 137-020-0800
Definitions

As used in this rule and OAR 137-020-0805 (Unfair and Deceptive Acts in Mortgage Loan Servicing):

(1)

“Borrower” means an individual who is obligated to repay a loan under a residential mortgage loan agreement, and includes the individual’s spouse, domestic partner, and heirs;

(2)

“Good faith” means honesty in fact and the observance of reasonable standards of fair dealing;

(3)

“Mortgage loan servicer” means a person engaging in the servicing of residential mortgage loans in this state and includes a person who makes or holds a mortgage loan if the person is the holder of the mortgage servicing rights or has been delegated servicing functions for the mortgage loan;

(4)

“Residential mortgage loan” means a loan to a natural person made primarily for personal, family or household use, other than a loan for open-end credit, as that term is defined in 12 CFR 1026.2(a)(20), as in effect on December 30, 2011, secured by a mortgage or other consensual security interest on residential real property located in this state;

(5)

“Servicing of residential mortgage loans” includes, but is not limited to:

(a)

Collecting or remitting, or having the right or obligation to collect or remit, for a lender, note owner, note holder or other holder of an interest in a note, payments, interest, principal and trust items, including but not limited to hazard insurance and taxes, on a residential mortgage loan in accordance with the terms of the loan, and includes loan payment follow-up, delinquency loan follow-up, loan analysis and any notifications to the borrower that are necessary to enable the borrower to keep the loan current and in good standing;

(b)

Bringing and maintaining a suit or action to collect amounts owed on a residential mortgage loan, including but not limited to exercising contractual, statutory or common law remedies such as injunction, specific performance, judicial or nonjudicial foreclosure or receivership; and,

(c)

Taking action for the purpose of protecting the lender’s, note owner’s, note holder’s or other owner of an interest in the note’s interest in the property and rights under the security instrument. “Servicing of residential mortgage loans” does not include the activities of any person licensed or authorized to act as an attorney, escrow agent, title company, or title insurer under Oregon law, or any person qualified to serve as a trustee under ORS 86.790.

(6)

“Person” has the meaning provided in ORS 646.605 (Definitions for ORS 336.184 and 646.605 to 646.652)(4); and,

(7)

“Residential real property” means real property located in this state improved by a one-to-four family residence or residential unit in a building used or occupied, or intended to be used or occupied, wholly or partly, as the primary residence of the borrower, but shall not refer to unimproved real property upon which such dwellings are to be constructed.

Source: Rule 137-020-0800 — Definitions, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=137-020-0800.

137‑020‑0010
Trade Practices Act 137‑020‑0015
Misleading Use of “Free” Offers and Rebates 137‑020‑0020
Motor Vehicle Price and Sales Disclosure 137‑020‑0025
Mobile Home Consignment 137‑020‑0030
Updating 137‑020‑0040
Adoption of FTC Used Car Rule, Federal Truth-in-Lending Act, and Federal Consumer Leasing Law 137‑020‑0050
Motor Vehicle Advertising 137‑020‑0100
Plain Language 137‑020‑0150
Gasoline Price Advertising 137‑020‑0160
Sales Practices 137‑020‑0200
Definitions 137‑020‑0201
Registration 137‑020‑0202
Filing Information 137‑020‑0203
Information to Be Provided Each Prospective Purchaser 137‑020‑0205
Refusal to Issue or Renew Registration 137‑020‑0250
Loan Brokers and Misleading Activities 137‑020‑0261
Novel-Infectious-Coronavirus-Related Representations Regarding Health Benefits of Goods 137‑020‑0300
Unordered Real Estate, Goods, or Services 137‑020‑0410
Definitions and Exemptions 137‑020‑0420
Rules of Unique Application to Contests 137‑020‑0430
Rules of Unique Application to Sweepstakes 137‑020‑0440
Prohibitions Applicable to All Promotions (Including Schemes, Sweepstakes, and Contest) 137‑020‑0460
Requests for Removal from Sweepstakes Promotion Mailing List 137‑020‑0505
Manufactured Dwelling Rules 137‑020‑0520
Definitions 137‑020‑0535
Unfair Trade Practices 137‑020‑0550
Manufactured Dwelling Purchase Agreement 137‑020‑0565
Landlord’s Written Site Improvement Disclosure Statement 137‑020‑0600
Misrepresentation of Notarial Powers 137‑020‑0705
Purpose 137‑020‑0707
Definitions 137‑020‑0709
Standards and Guidelines for Mediation 137‑020‑0711
Mediator Qualifications and Training 137‑020‑0713
Costs of Participation, Collection of Data 137‑020‑0800
Definitions 137‑020‑0805
Unfair and Deceptive Acts in Mortgage Loan Servicing
Last Updated

Jun. 8, 2021

Rule 137-020-0800’s source at or​.us