OAR 441-890-0015
Deficiencies in Mortgage Servicer License Application

(1) If an applicant or licensee submits an application, filing, or amendment, which is incomplete in any respect, the director shall notify the applicant or licensee of the deficiencies through the NMLS. The applicant or licensee shall correct a deficiency associated with an application, filing, or amendment within 30 days of being notified through the NMLS that the director placed a deficiency on the person’s application, filing, or amendment. A challenge submitted to the NMLS as set out in OAR 441-850-0050 (Process to Challenge Information Entered into the National Mortgage Licensing System and Registry) shall halt the 30-day period of time for correcting deficiencies for the duration of the challenge process.
(2) If the applicant fails to complete the application or respond to deficiencies within 30 days, the application will be considered abandoned. Any fees paid by the applicant under OAR 441-890-0040 (Fees Payable to the Director) will not be refunded due to abandonment. An applicant whose application is abandoned under this rule may reapply to obtain a mortgage servicer license.

Source: Rule 441-890-0015 — Deficiencies in Mortgage Servicer License Application, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=441-890-0015.

Last Updated

Jun. 8, 2021

Rule 441-890-0015’s source at or​.us