OAR 441-446-0230
Recordkeeping Requirements for Residential Mortgage Loans


In addition to the recordkeeping requirements contained in 441-446-0210 (Dealer Requirements), a dealer that takes an application for a residential mortgage loan must prepare and maintain all documentation related to the loan, including but not limited to the following:

(1)

A copy of each loan application form signed by the borrower;

(2)

A copy of all documentation relied upon in making the loan decision;

(3)

A copy of all documents submitted by a borrower to the dealer in connection with the loan application;

(4)

A copy of any documents noting approval or denial of a borrower’s mortgage loan application;

(5)

A copy of all correspondence with the borrower in writing or in a format easily converted to writing;

(6)

A copy of all Truth in Lending Act disclosure statements required by Regulation Z, 12 C.F.R. Part 1026;

(7)

A copy of an authorization signed by the borrower to release credit information to the dealer for evaluating whether to extend credit to the borrower;

(8)

A copy of every credit report accessed by the dealer in connection with the loan;

(9)

A copy of the retail installment contract signed by both parties, the note, or a copy of another form of agreement signed by the parties evidencing the terms of the transaction for the manufactured structure;

(10)

A copy of the purchase agreement signed by the borrower;

(11)

A copy of the ownership documents filed with the director under ORS 446.561 (Definitions for ORS 446.566 to 446.646) et seq.; and

(12)

A copy of the borrower’s payment schedule and a copy of receipts for loan payment received by the dealer.

Source: Rule 441-446-0230 — Recordkeeping Requirements for Residential Mortgage Loans, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=441-446-0230.

Last Updated

Jun. 8, 2021

Rule 441-446-0230’s source at or​.us