OAR 441-730-0205
Limitation on Charging a Prepayment Penalty by Consumer Finance Licensees


A licensee may not charge a penalty for prepayment of all or part of the unpaid balance of a loan where:

(1)

A licensee refinances a loan they own.

(2)

The licensee has repossessed any collateral offered for the loan, sold the collateral and applied the proceeds of the sale towards the unpaid balance of the loan.

(3)

The licensee forecloses on property and applies any proceeds realized from the foreclosure toward the unpaid balance of the loan.

(4)

The licensee exercises an option contained in the loan agreement to require immediate repayment of all or part of the unpaid balance of the loan.

(5)

All or part of the loan balance is repaid with insurance benefits resulting from the death of the borrower.

(6)

The licensee demands repayment of all or part of the unpaid balance of the loan.

(7)

The loan is a home equity line of credit or an unsecured line of credit.

Source: Rule 441-730-0205 — Limitation on Charging a Prepayment Penalty by Consumer Finance Licensees, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=441-730-0205.

441‑730‑0000
Statutory Authority
441‑730‑0010
Definitions
441‑730‑0015
Licensee Lending Characteristics and Practices
441‑730‑0025
License Applications
441‑730‑0026
Corporate Surety Bond for Consumer Finance Licensees Employing a Mortgage Loan Originator
441‑730‑0027
State Criminal Records Check
441‑730‑0030
Fees, Charges Licensees Pay the Director
441‑730‑0050
Notes and Agreements
441‑730‑0060
Loans Not to Be Payable on Demand
441‑730‑0070
Advertising Regulations
441‑730‑0080
Qualifications of Person in Charge of Licensed Office
441‑730‑0100
Licensee Officers and Directors
441‑730‑0110
Accounting Records of Licensee
441‑730‑0120
Account Record to Be Maintained for Each Loan
441‑730‑0125
Residential Borrower Files for Mortgage Loans
441‑730‑0130
Maintaining Index of Obligors
441‑730‑0140
Records and Files Required to Be Kept at Servicing Office
441‑730‑0150
Consolidating Sales Financing into Direct Loans
441‑730‑0160
Daily-Interest Computation
441‑730‑0170
Precomputed Interest
441‑730‑0180
Deferred Payment on Precomputed Loan
441‑730‑0200
Action on Precomputed Loan
441‑730‑0205
Limitation on Charging a Prepayment Penalty by Consumer Finance Licensees
441‑730‑0210
Recomputation of Interest on Delinquent Precomputed Loan
441‑730‑0220
Insurance Premium Charges
441‑730‑0230
Insurance Benefits Paid to Licensee
441‑730‑0240
Statement of Loan
441‑730‑0246
Contents of Foreclosure Notices
441‑730‑0250
Receipt to Be Furnished to Borrower Upon Request
441‑730‑0255
Payoff Information to be Furnished to Borrower Upon Request
441‑730‑0260
Advances to Perform Covenants
441‑730‑0280
Prohibited Provisions in Loan Contract Provisions
441‑730‑0320
Licensee Reporting
Last Updated

Jun. 8, 2021

Rule 441-730-0205’s source at or​.us