ORS 86.726
Resolution conference for foreclosure

  • exemptions
  • procedure to request conference
  • fee

(1)

Intentionally left blank —Ed.

(a)

Except as provided in paragraph (b) of this subsection and subsection (5) of this section, a beneficiary that intends to foreclose a residential trust deed shall first request a resolution conference with the grantor before the beneficiary or the trustee files a notice of default under ORS 86.752 (Foreclosure by advertisement and sale) or before the beneficiary brings suit under ORS 88.010 (Foreclosure of lien by suit).

(b)

Intentionally left blank —Ed.

(A)

The requirement to request or participate in a resolution conference with a grantor in accordance with subsection (2) or (3) of this section does not apply to a beneficiary if the beneficiary submits to the Attorney General a sworn affidavit that states that during the preceding calendar year the beneficiary did not commence or cause an affiliate, subsidiary or agent of the beneficiary to commence more than 30 actions to foreclose a residential trust deed by advertisement and sale under ORS 86.752 (Foreclosure by advertisement and sale) or by suit under ORS 88.010 (Foreclosure of lien by suit). A beneficiary that is a trustee shall include as part of the total number of foreclosure actions that the beneficiary commenced in the previous calendar year all foreclosure actions that the beneficiary commenced under ORS 86.752 (Foreclosure by advertisement and sale) or 88.010 (Foreclosure of lien by suit) in the beneficiary’s capacity as a trustee. A beneficiary that intends to claim an exemption under this subparagraph shall submit the affidavit in a form and with the contents the Attorney General specifies by rule either:
(i)
Not later than January 31 in any calendar year in which the beneficiary intends to claim the exemption for the remainder of the calendar year; or
(ii)
At the time the beneficiary files a notice of default under ORS 86.752 (Foreclosure by advertisement and sale) or brings suit under ORS 88.010 (Foreclosure of lien by suit).

(B)

An exemption under subparagraph (A) of this paragraph expires at the end of the calendar year in which the beneficiary claims the exemption.

(c)

Except as provided in subsection (5) of this section, a beneficiary that claims an exemption under this subsection is not exempt from the requirements set forth in ORS 86.748 (Determination of ineligibility for foreclosure avoidance measure).

(2)

The beneficiary shall request a resolution conference through the service provider. The beneficiary shall submit the request to the service provider electronically, by facsimile or by mail and shall submit a processing fee in an amount and in a manner that the Attorney General specifies by rule. The service provider shall pay to the Attorney General, for deposit into the Foreclosure Avoidance Fund established under ORS 86.744 (Foreclosure Avoidance Fund), moneys the service provider receives from the beneficiary under this subsection. The beneficiary’s request under this subsection must identify the residential trust deed that the beneficiary intends to foreclose and list the name, title, address, telephone number and other available contact information for:

(a)

The beneficiary;

(b)

Any agent of the beneficiary that will attend the resolution conference;

(c)

Any person other than a person identified in paragraph (a) or (b) of this subsection that will receive, on the beneficiary’s behalf, notices or other communications related to the resolution conference; and

(d)

The grantor.

(3)

Intentionally left blank —Ed.

(a)

If a beneficiary does not request a resolution conference under subsection (1) of this section, a grantor may request a resolution conference with the beneficiary if:

(A)

The beneficiary or the trustee has not filed a notice of default under ORS 86.752 (Foreclosure by advertisement and sale) or the beneficiary has not commenced a suit under ORS 88.010 (Foreclosure of lien by suit); and

(B)

The grantor first obtains from a housing counselor a certification in writing that the grantor is more than 30 days in default on the obligation that the residential trust deed secures or, if the grantor is not in default, that the grantor has a financial hardship that the housing counselor believes may qualify the grantor for a foreclosure avoidance measure.

(b)

A grantor shall request a resolution conference through the service provider. The grantor shall submit the request to the service provider electronically, by facsimile or by mail and shall enclose with the request the written certification the housing counselor provides under paragraph (a)(B) of this subsection. The Attorney General by rule shall specify the information that the request must include.

(c)

A beneficiary that receives a notice from a service provider after the service provider receives a request from a grantor under paragraph (b) of this subsection is subject to the requirements set forth in this section and ORS 86.729 (Scheduling and notice for resolution conference), 86.732 (Attendance at resolution conference), 86.736 (Certificate of compliance) and 86.748 (Determination of ineligibility for foreclosure avoidance measure).

(d)

This subsection does not apply to a beneficiary that has submitted an affidavit and is exempt under subsection (1)(b) of this section.

(4)

A beneficiary that submitted an affidavit in accordance with subsection (1)(b) of this section may, without waiving the exemption the beneficiary claimed in the affidavit, request a resolution conference with a grantor. The beneficiary shall submit a request under this subsection in accordance with the requirements set forth in subsection (2) of this section, except that submitting the request does not require a processing fee.

(5)

The requirement to request or participate in a resolution conference with a grantor in accordance with subsection (2) or (3) of this section does not apply to the Department of Veterans’ Affairs in its capacity as a beneficiary of loans made under ORS 407.125 (Loans to qualified person). [2013 c.304 §2; 2015 c.382 §1; 2021 c.106 §4]
Note: Sections 5 to 7, chapter 106, Oregon Laws 2021, provide:
Sec. 5. Section 6 of this 2021 Act is added to and made a part of ORS 86.705 (Definitions for ORS 86.705 to 86.815) to 86.815 (Time within which foreclosure must be commenced). [2021 c.106 §5]
Sec. 6. (1) A beneficiary that submits a sworn affidavit to the Attorney General under ORS 86.726 (Resolution conference for foreclosure) (1)(b)(A) during the calendar year 2021 or 2022 shall make the statement required in the affidavit on the basis of the beneficiary’s actions, or the actions of the beneficiary’s affiliate, subsidiary or agent, to foreclose a residential trust deed by advertisement and sale under ORS 86.752 (Foreclosure by advertisement and sale) or by suit under ORS 88.010 (Foreclosure of lien by suit) during the calendar year 2019.

(2)

A beneficiary may not during calendar year 2021 or 2022 submit an affidavit to the Attorney General and does not qualify for an exemption from the requirement to participate in a resolution conference if the beneficiary, or the beneficiary’s affiliate, subsidiary or agent, during the calendar year 2019 commenced more than 30 actions to foreclose a residential trust deed by advertisement and sale under ORS 86.752 (Foreclosure by advertisement and sale) or by suit under ORS 88.010 (Foreclosure of lien by suit), notwithstanding the qualification established for the exemption in ORS 86.726 (Resolution conference for foreclosure) (1)(b)(A), as in effect before the effective date of this 2021 Act [June 1, 2021]. Any affidavit that a beneficiary submitted on or after January 1, 2021, and before the effective date of this 2021 Act that under this subsection does not qualify the beneficiary for an exemption is without effect and the beneficiary is subject to the requirements of ORS 86.726 (Resolution conference for foreclosure), 86.729 (Scheduling and notice for resolution conference), 86.732 (Attendance at resolution conference), 86.736 (Certificate of compliance) and 86.748 (Determination of ineligibility for foreclosure avoidance measure) during the calendar year 2021. [2021 c.106 §6]
Sec. 7. Section 6 of this 2021 Act is repealed on January 2, 2024. [2021 c.106 §7]

Source: Section 86.726 — Resolution conference for foreclosure; exemptions; procedure to request conference; fee, https://www.­oregonlegislature.­gov/bills_laws/ors/ors086.­html.

86.010
Nature of mortgagee’s interest 86.020
Covenant to pay money not implied 86.030
Absolute deed as a mortgage 86.040
Improvements on mortgaged lands 86.050
Payment of taxes and other charges by mortgagee 86.060
Assignment of mortgage 86.080
Record of assignment not notice to mortgagor 86.095
Acts not affecting priority of lien of credit instrument 86.100
Discharge of mortgage 86.110
Discharge of record by owner and holder of mortgage note who is not the mortgagee of record 86.120
Discharge of mortgage on real property 86.130
Discharge by foreign executors, administrators, conservators and guardians 86.140
Liability of mortgagee for failure to discharge mortgage 86.150
Loan agreements and promissory notes to state maximum prepayment privilege penalty 86.155
Priority of line of credit instrument as to certain advances 86.157
Action for residual debt after short sale of residential property 86.160
Definitions for ORS 86.160 to 86.185 86.165
Late charge 86.170
Prohibited mortgage provisions 86.175
Scope 86.180
ORS 86.160 to 86.185 not applicable to certain mortgagees 86.185
ORS 86.160 to 86.185 not applicable to certain loans 86.205
Definitions for ORS 86.205 to 86.275 86.210
Types of lender security protection provisions allowed 86.214
Application of ORS 86.210 and 86.245 to real estate loan agreements 86.240
Limit on amount required in security protection escrow account 86.245
Interest on security protection deposits 86.250
Service charge prohibited where interest required 86.255
Arrangements where security protection provisions not required 86.260
Payment of taxes where security protection provision required 86.265
Effect of lender violation of ORS 86.205 to 86.275 86.270
ORS 86.205 to 86.275 inapplicable to certain loan agreements 86.275
Severability 86.405
Secretary of State to furnish statement of mortgages filed before September 1, 1963 86.440
Discharge of mortgage recorded with county recording officer 86.460
Discharge of mortgage filed with Secretary of State 86.470
Discharge, assignment and foreclosure of mortgages on chattels registered and licensed by Department of Transportation 86.610
Power of financial institutions, fiduciaries and others to make loans secured by property insured by Federal Housing Administration 86.620
Investment of funds of financial institutions, fiduciaries and others in bonds and mortgages accepted by Federal Housing Administration, debentures issued thereby, and obligations of national mortgage associations 86.630
Eligibility of securities described in ORS 86.620 as security for deposits, investment or reserve of securities 86.640
Applicability of other laws requiring security or regulating loans and investments 86.705
Definitions for ORS 86.705 to 86.815 86.707
Additional definitions for ORS 86.726, 86.729, 86.732, 86.736, 86.741, 86.744 and 86.748 86.710
Trust deeds authorized to secure performance of obligation 86.713
Qualifications of trustee 86.715
Trust deed deemed to be mortgage on real property 86.720
Reconveyance upon performance 86.722
Correction of error concerning status or effect of trust deed 86.726
Resolution conference for foreclosure 86.729
Scheduling and notice for resolution conference 86.732
Attendance at resolution conference 86.736
Certificate of compliance 86.741
Attorney General duties and powers 86.744
Foreclosure Avoidance Fund 86.748
Determination of ineligibility for foreclosure avoidance measure 86.752
Foreclosure by advertisement and sale 86.756
Notice to grantor 86.761
Failure to give notice to grantor 86.764
Notice of sale for certain persons 86.767
Failure to give notice of sale 86.771
Contents of notice of sale 86.774
Service and publication of notice 86.778
Discontinuance of foreclosure proceedings after cure of default 86.782
Sale of property 86.786
Request for information from trustee 86.789
Information provided by trustee 86.794
Disposition of proceeds of sale 86.797
Effect of sale 86.800
Contents of trustee’s deed to purchaser 86.803
Recitals in trustee’s deed and certain affidavits as prima facie or conclusive evidence 86.806
Requests for copies of notice of default or notice of sale 86.809
Compensation of trustee 86.812
Impermissible conditions for approving short sale or sale of note 86.815
Time within which foreclosure must be commenced 86.990
Penalties
Green check means up to date. Up to date

Current through early 2024

§ 86.726’s source at oregon​.gov