OAR 441-860-0025
Rules for Use of Assumed Business Names

(1)

In addition to any requirements for registering an assumed business name with the Secretary of State, a mortgage banker or mortgage broker who intends to use an assumed business name to identify the person’s mortgage banker or mortgage broker business shall also comply with the following before doing business under the assumed business name:

(a)

If the assumed business name contains words or phrases described in ORS 56.023 (Approval of name of entity by Director of Department of Consumer and Business Services required in certain business registry filings), the mortgage banker or mortgage broker must obtain specific written approval from the director under ORS 705.635 (Certificate of approval of certain business registry names filed under ORS 56.023) and OAR 441-005-0010 (Application For Certificate Of Compliance).

(b)

The assumed business name must be placed upon any client trust account maintained by the mortgage banker or mortgage broker.

(2)

Regardless of the lack of any ownership interest in the assumed business name, the mortgage banker or mortgage broker is responsible for all actions of those acting under the assumed business name which relate to mortgage banking loans or mortgage loans.

Source: Rule 441-860-0025 — Rules for Use of Assumed Business Names, https://secure.sos.state.or.us/oard/view.action?ruleNumber=441-860-0025 (accessed May 26, 2025).

441–860–0020
Application Requirements 441–860–0021
Biographical Information Required for Mortgage Banker or Mortgage Broker License Application 441–860–0024
Deficiencies in Mortgage Banker or Mortgage Broker License Application 441–860–0025
Rules for Use of Assumed Business Names 441–860–0030
Branch Office Licensing 441–860–0040
Supervision of Branch Offices and Mortgage Loan Originators 441–860–0045
State Criminal Records Check 441–860–0050
Renewal of Mortgage Banker and Mortgage Broker License 441–860–0060
Equivalent and Related Experience 441–860–0070
Disclosure of Significant Developments 441–860–0080
Failure to Continually Satisfy Experience Requirement 441–860–0085
Corporate Surety Bond for Mortgage Bankers or Mortgage Brokers Acting as or Employing a Mortgage Loan Originator 441–860–0090
Corporate Surety Bond or Irrevocable Letter of Credit for Mortgage Bankers Not Employing Mortgage Loan Originators 441–860–0101
Fees Payable to the Director 441–860–0110
Examination Charges Mortgage Bankers or Mortgage Brokers Pay to the Director 441–860–0130
Private Money Loans

May 26, 2025

Rule 441-860-0025's source at or.us

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Location: https://oregon.public.law/rules/oar_441-860-0025

Original Source: Rule 441-860-0025 — Rules for Use of Assumed Business Names, https://secure.sos.state.or.us/oard/view.action?ruleNumber=441-860-0025 (last accessed May 10, 2025).