Mortgage Lending

ORS 86A.321
Director’s supervisory authority

  • examinations
  • confidentiality


The Director of the Department of Consumer and Business Services has general supervisory authority over:


Each licensee in this state;


Any person that services a residential mortgage loan in this state, if the person is subject to ORS 86A.303 (Definitions) to 86A.339 (Additional duties of mortgage loan servicer) or if the director required the person to obtain a license under ORS 86A.306 (License requirement) (3); and


Any person that had a license that the director withdrew, canceled, suspended, conditioned or revoked, if the person continues to service a residential mortgage loan.


(a) The authority described in subsection (1) of this section includes the authority to examine a licensee or a person described in subsection (1) of this section at any time.


The director may charge and collect from a licensee or a person the director examines under this section the costs the director incurs in conducting the examination.


In order to carry out an examination under this section, the director may:


Retain attorneys, accountants or other professionals and specialists as examiners, auditor or investigators.


Enter into agreements or relationships with other government officials or regulatory associations to share resources, use and create standardized methods, procedures, documents, databases, records, information or evidence or to reduce the director’s regulatory burden or improve efficiency.


Participate in multistate examinations that the Conference of State Bank Supervisors or the federal Consumer Financial Protection Bureau schedules and conducts. In conducting an examination under this paragraph, the director shall follow the protocol that the conference or bureau establishes for the examination.


Accept and rely on examination or investigation reports from other government officials in this or another state.


Books, accounts, papers, records, files, correspondence, contracts and agreements, disclosures, documentation and other information, material or evidence the director obtains in an examination under this section is confidential and subject to the provisions of ORS 705.137 (Information that is confidential or not subject to disclosure), except that a borrower may request to inspect material related to the borrower’s residential mortgage loan that the director by rule specifies is available for inspection. The director shall authenticate the borrower’s identity before disclosing any material to the borrower. [2017 c.636 §8]


Last accessed
Jun. 26, 2021