OAR 441-880-0215
Oregon Examination For Mortgage Loan Originators

(1)

Each applicant for a new mortgage loan originator license must pass the Uniform State Mortgage Loan Originator examination approved by the National Mortgage Licensing System and Registry, that contains a uniform state test and an examination on federal regulation prior to engaging in activities as an Oregon mortgage loan originator.

(a)

A passing score on the examination described in section (1) of this rule is 75 percent or greater.

(b)

A passing score on the examination described in section (1) of this rule is valid for 2 years from the date of passing the examination.

(2)

An applicant that fails to pass an examination may retake the examination consistent with ORS 86A.215 (Education and testing requirements for license).

(3)

Notwithstanding section (2), an applicant who violates the rules of conduct governing the Uniform State Mortgage Loan Originator examination or the rules of conduct governing an examination to obtain a loan originator’s license in any state or territory is considered to have engaged in an act, practice or course of business that operates or would operate as a fraud or deceit as used in ORS 86A.236 (Prohibited activities)(2). In addition to other remedies available, the director may refuse to issue the person a license as a mortgage loan originator.

Source: Rule 441-880-0215 — Oregon Examination For Mortgage Loan Originators, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=441-880-0215.

Last Updated

Jun. 8, 2021

Rule 441-880-0215’s source at or​.us