The Director of the Department of Consumer and Business Services may not issue a mortgage loan originator’s license to an applicant unless the director finds, at a minimum, that the applicant:
Has obtained a unique identifier from the Nationwide Mortgage Licensing System and Registry.
Has not had a mortgage loan originator’s license revoked in another jurisdiction. For purposes of this paragraph, an applicant’s mortgage loan originator’s license was not revoked if an order or decision to revoke the license was later rescinded or vacated.
Has not been convicted of or pleaded guilty or no contest in a state, federal, foreign or military court to a felony or to a misdemeanor if an essential element of the misdemeanor involved false statements or dishonesty:
At any time before the date the applicant submits an application under ORS 86A.206 (Application for license), if the conviction or plea involved a felony and an element of the felony was an act of fraud, dishonesty, a breach of trust or laundering a monetary instrument. For purposes of this paragraph, a conviction that was later pardoned is not a conviction.