OAR 441-860-0021
Biographical Information Required for Mortgage Banker or Mortgage Broker License Application

(1)

Each of the following persons listed in section (2) of this rule shall submit a Form MU2 to the director through the Nationwide Mortgage Licensing System and Registry.

(2)

This rule applies to:

(A)

Any director, officer, and a shareholder with a direct or indirect ownership of greater than or equal to ten percent of outstanding shares of a corporate applicant;

(B)

The owner, if the applicant is an unincorporated sole proprietorship;

(C)

Each managing partner of a limited partnership or a partner in a general partnership with a partnership interest greater than or equal to ten percent of the total partnership interests in the general or limited partnership;

(D)

A member or managing member in a limited liability company with an ownership interest greater than or equal to ten percent of the total membership interests in the limited liability company; and

(E)

The person identified in ORS 86A.106 (Procedures for licensing)(2) as having the requisite experience in the mortgage business, negotiating loans in a related business satisfactory to the director, or lending experience in a related business satisfactory to the director.

Source: Rule 441-860-0021 — Biographical Information Required for Mortgage Banker or Mortgage Broker License Application, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=441-860-0021.

Last Updated

Jun. 8, 2021

Rule 441-860-0021’s source at or​.us