A person, or an affiliate of the person, that in all operations within the United States during the calendar year services fewer than 5,000 residential mortgage loans, excluding loans that the person or the person’s affiliate originates or owns.
A financial holding company or bank holding company, both as defined in ORS 706.008 (Additional definitions for Bank Act), if the financial holding company or bank holding company does not do more than control an affiliate or a subsidiary, as defined in 12 U.S.C. 1841(d), and does not engage in business as a residential mortgage loan servicer.
An attorney who is licensed or otherwise authorized to practice law in this state if the attorney:
Services a residential mortgage loan as an ancillary matter while representing a client; and
Does not receive compensation from a residential mortgage loan servicer.
An agency or instrumentality of this state or the United States.
A housing finance agency, as defined in 24 C.F.R. 266.5.
An institution that the Farm Credit Administration regulates.
A person that the Director of the Department of Consumer and Business Services designates by rule or order as exempt, including but not limited to a nonprofit organization that promotes affordable housing or financing.
Notwithstanding subsection (2) of this section, the director may require any person to obtain a license under ORS 86A.309 (Application for license) before servicing a residential mortgage loan if the director determines that the person has violated state or federal law or has engaged in a course of dealing that is fraudulent, deceptive or dishonest.
Apply to a circuit court of this state to enjoin the person from engaging in the act or practice.
The director shall state in reasonable detail the facts on which the director bases an order under paragraph (a)(A) of this subsection.
If a person that is subject to an order under paragraph (a)(A) of this subsection requests a hearing, the director shall schedule and give notice of a hearing in accordance with ORS chapter 183. If the person does not request a hearing, the director’s order becomes final 30 days after the date of the order.