ORS 86A.124
Supervisory authority of director over mortgage bankers, mortgage brokers and mortgage loan originators

  • documents exempt from disclosure

(1)

The Director of the Department of Consumer and Business Services has general supervision and control over mortgage loan originators, mortgage bankers and mortgage brokers that reside or do business in this state and that engage in an activity that is subject to the provisions of ORS 86A.095 (Short title) to 86A.198 (Materials in languages other than English). The director may examine at any time mortgage bankers and mortgage brokers and the records and activities connected with mortgage bankers, mortgage brokers and mortgage loan originators. The provisions of this section and of any other section of ORS 86A.095 (Short title) to 86A.198 (Materials in languages other than English) relating to examinations extend to a person that is or should have been licensed as a mortgage loan originator under ORS 86A.200 (Definitions) to 86A.239 (Display of license and unique identifier) or licensed as a mortgage banker or mortgage broker, a person exempted by rule from the definitions of mortgage banker, mortgage broker or mortgage loan originator or a person whose license has expired or has been withdrawn, canceled, suspended, conditioned or revoked. The director may collect from the person the actual expenses incurred in the examination.

(2)

Intentionally left blank —Ed.

(a)

A mortgage loan document the director obtains as part of an examination under this section is exempt from disclosure and is confidential for the purposes of ORS 705.137 (Information that is confidential or not subject to disclosure).

(b)

This subsection does not prohibit an individual from inspecting and requesting the director to disclose any of the individual’s mortgage loan documents that the director obtained during the course of an examination. The director shall authenticate the individual’s identity before disclosing the mortgage loan documents to the individual. [Formerly 59.880; 2011 c.350 §1]

Source: Section 86A.124 — Supervisory authority of director over mortgage bankers, mortgage brokers and mortgage loan originators; documents exempt from disclosure, https://www.­oregonlegislature.­gov/bills_laws/ors/ors86A.­html.

86A.095
Short title 86A.100
Definitions 86A.103
License required to engage in residential mortgage transactions as mortgage banker or mortgage broker 86A.106
Procedures for licensing 86A.109
Expiration of initial license 86A.112
Licensees to keep records 86A.115
Grounds for denying, suspending, conditioning or revoking license 86A.118
Action against applicant or licensee for act or omission of associate 86A.121
Cancellation of license or application 86A.124
Supervisory authority of director over mortgage bankers, mortgage brokers and mortgage loan originators 86A.127
Investigations 86A.130
Enjoining violations 86A.133
Procedures where assets or capital of mortgage banker or mortgage broker found impaired 86A.136
Rules 86A.139
Notice of orders 86A.142
Judicial review of orders 86A.145
Oaths and subpoenas in proceedings before director 86A.148
Copies of documents 86A.151
Liability of person that employs mortgage loan originator 86A.154
Fraud and deceit with respect to mortgage banker or mortgage broker business 86A.157
Clients’ Trust Account 86A.160
Notice to bank regarding Clients’ Trust Account 86A.163
Prohibited advertisements 86A.166
Designation of principal place of business 86A.169
Disclosure required before closing mortgage loan or mortgage banking loan 86A.172
Advisory committee 86A.175
Servicing or collecting mortgage banking loan or mortgage loan by mortgage banker or mortgage broker 86A.178
Legislative findings regarding mortgage loan originators 86A.183
Prohibited conduct for mortgage bankers, mortgage brokers and mortgage loan originators 86A.186
Mortgage loan originator criminal records checks 86A.195
Restrictions on negative amortization loans 86A.196
Notice of reverse mortgage prohibition in homestead property tax deferral program 86A.198
Materials in languages other than English 86A.200
Definitions 86A.203
License and unique identifier for mortgage loan originator 86A.206
Application for license 86A.209
Interim license 86A.212
Findings required for issuing license 86A.215
Education and testing requirements for license 86A.218
License renewal 86A.221
Continuing education requirements for mortgage loan originator 86A.224
Denying, suspending, conditioning, revoking or declining to renew license 86A.227
Corporate surety bond required 86A.230
Contracts or agreements with Nationwide Mortgage Licensing System and Registry and other agencies 86A.233
Production of records 86A.236
Prohibited activities 86A.239
Display of license and unique identifier 86A.242
Rules 86A.300
Short title 86A.303
Definitions 86A.306
License requirement 86A.309
Application for license 86A.312
Licensee’s principal place of business 86A.315
Required liquidity, operating reserves and tangible net worth 86A.318
Required notices to director 86A.321
Director’s supervisory authority 86A.324
Duties of mortgage loan servicer 86A.327
Complaints 86A.330
Violations 86A.333
Additional duties of licensee 86A.336
Suspension or removal of licensee’s director or officer 86A.339
Additional duties of mortgage loan servicer 86A.990
Criminal penalties for violations of ORS 86A.095 to 86A.198 86A.992
Civil penalties for violations of ORS 86A.095 to 86A.198
Green check means up to date. Up to date

Current through early 2024

§ 86A.124’s source at oregon​.gov