A mortgage loan originator shall be required to notify the director within 30 days of the occurrence of any of the following significant developments:
- (1) Filing for bankruptcy;
- (2) Notice that a state began license revocation proceedings against the mortgage loan originator;
- (3) Filing of a felony indictment against the mortgage loan originator;
- (4) Convictions for any felony or conviction for a misdemeanor involving fraud;
- (5) Instances of material litigation occurring against the mortgage loan originator;
- (6) Changes in the information required on the mortgage loan originator’s application form, including, but not limited to address changes, phone number changes, and other information; and
- (7) Changes in the employment status of a mortgage loan originator.
Statutory/Other Authority
ORS 86A.242
Statutes/Other Implemented
ORS 86A.224 & 86A.236
History
FSR 14-2020, minor correction filed 03/23/2020, effective 03/23/2020
FCS 4-2012, f. & cert. ef 8-1-12