1. (1) An applicant or licensee operating an approved servicer must maintain liquidity, operating reserves, and tangible net worth of at least $250,000.
2. (2) The director may waive or adjust the requirements in this section if it finds that doing so will be in the public interest. The director shall consider the servicer’s loan portfolio, operational risks, net worth, operating reserves, and degree of supervision by other regulatory entities.

Statutory/Other Authority

Or Laws 2021, ch 651, secs 1-10

Statutes/Other Implemented

Or Laws 2021, ch 651, secs 2-10

History

FSR 2-2022, adopt filed 06/27/2022, effective 07/01/2022