Mortgage Lending

ORS 86A.209
Interim license

  • findings required


The Director of the Department of Consumer and Business Services may issue an interim mortgage loan originator’s license to a person that is not licensed under ORS 86A.212 (Findings required for issuing license) if the director finds that issuing the interim license will facilitate the business of licensed mortgage loan originators or prevent an undue delay in issuing a mortgage loan originator’s license. The director may specify the term of the interim mortgage loan originator’s license and may issue the interim license to an applicant for a mortgage loan originator’s license only if the director finds that the applicant:

(1)

Is employed by a person that has a valid license or registration from the Department of Consumer and Business Services;

(2)

Substantially meets the requirements of ORS 86A.206 (Application for license), 86A.212 (Findings required for issuing license) and 86A.215 (Education and testing requirements for license) as of July 31, 2010; and

(3)

Has not committed an act prohibited under ORS 86A.236 (Prohibited activities). [2009 c.863 §3a]

Source

Last accessed
Jun. 26, 2021