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Oregon Revised Statutes Mortgages and Liens § 86A.239

Current as of January 01, 2023 | Updated by Findlaw Staff

(1)(a) A licensed mortgage loan originator shall clearly display the licensed mortgage loan originator's unique identifier on a residential mortgage loan application form, solicitation, advertisement, promotional material or website the licensed mortgage loan originator uses in connection with the licensed mortgage loan originator's business.

(b) The Director of the Department of Consumer and Business Services by rule may specify the location, size or other characteristics of the unique identifier that must appear on the materials described in paragraph (a) of this subsection and the materials on which the unique identifier must appear.

(2) A person that employs a licensed mortgage loan originator shall submit a report of condition to the Nationwide Mortgage Licensing System and Registry. The form and contents of the report and the times at which the licensed mortgage loan originator submits the report shall comply with the specifications of the Nationwide Mortgage Licensing System and Registry.

(3) A loan processor or underwriter may not represent to the public by means of advertising, business cards, stationery, brochures, signs, rate lists or other communications, promotional items or methods that the loan processor or underwriter can, will or is authorized to perform the duties of a mortgage loan originator unless the loan processor or underwriter obtains a mortgage loan originator's license under ORS 86A.212.

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Cite this article: FindLaw.com - Oregon Revised Statutes Mortgages and Liens § 86A.239 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-9-mortgages-and-liens/or-rev-st-sect-86a-239/

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