reglab/housing_qa huggingface dataset:
OR Rev Stat § 86A.178 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.178 - Legislative findings regarding mortgage loan originators; prohibited practice.

(1) The Legislative Assembly finds and declares that: (a) The public interest is served by identifying a mortgage loan originator with a specific mortgage banker or mortgage broker; and (b) The public must be protected from the conflicts of interest created when a mortgage loan originator is employed by more than one mortgage lender. (2) A mortgage loan originator may not originate loans for more than one mortgage banker, mortgage broker or other mortgage lender or independent mortgage agency at the same time. [Formerly 59.967]
OR Rev Stat § 86A.183 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.183 - Prohibited conduct for mortgage bankers, mortgage brokers and mortgage loan originators; conditions affecting employment of mortgage loan originators.

(1) A mortgage banker, mortgage broker or mortgage loan originator may not: (a) Engage in dishonest, fraudulent or illegal practices or conduct in a business or profession or engage in unfair or unethical practices or conduct in connection with the mortgage business. (b) Willfully or repeatedly violate or fail to comply with a provision of ORS 86A.095 to 86A.198 or 86A.200 to 86A.239 or a rule or order of the Director of the Department of Consumer and Business Services. (c) Fail to account to persons interested for money or property received in connection with a mortgage loan. (d) Fail to meet the training, education or continuing education requirements for mortgage loan originators set forth in ORS 86A.215 or 86A.221. (e) Perform an act as a mortgage loan originator in a negligent or incompetent manner. (2) An individual may not be employed by a mortgage banker or mortgage broker as a mortgage loan originator if: (a) The individual was convicted of a crime or category of crime specified by the director by rule; (b) The individual is suspended or has been prohibited from employment as a mortgage loan originator under ORS 86A.224; (c) The employment violates any conditions imposed under ORS 86A.224; or (d) The employment violates an order issued by the director, a state or federal agency or a court of competent jurisdiction. [Formerly 59.971]
OR Rev Stat § 86A.186 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.186 - Mortgage loan originator criminal records checks; rules.

(1) A person that employs or intends to employ an individual as a mortgage loan originator shall conduct a state criminal records check of the individual. (2) A person that employs or intends to employ an individual as a mortgage loan originator shall report to the Director of the Department of Consumer and Business Services the results of each state criminal records check conducted under subsection (1) of this section. (3) The director shall adopt rules to: (a) Implement and administer state criminal records checks required under this section; and (b) Specify crimes and categories of crimes for which a conviction will prevent a person from acting as a mortgage loan originator under ORS 86A.183. [Formerly 59.972]
OR Rev Stat § 86A.198 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.198 - Materials in languages other than English; requirements.

(1) A mortgage banker, a mortgage broker or a mortgage loan originator shall provide in writing the materials identified in subsection (2) of this section to a borrower if the mortgage banker, mortgage broker or mortgage loan originator: (a) Communicates or causes to be communicated an advertisement in a language other than English or otherwise solicits business in a language other than English; and (b) Offers to negotiate or make, or negotiates or makes, a residential mortgage transaction in the course of which a substantial portion of the communication with the borrower that is related to the transaction takes place in the language other than English that was used to communicate the advertisement or make the solicitation. (2) A mortgage banker, mortgage broker or mortgage loan originator that takes an action described in subsection (1) of this section shall provide the following materials to the borrower in English and in the language other than English in which a substantial portion of the communication that is related to the transaction takes place: (a) A good faith estimate required under the Real Estate Settlement Procedures Act, 12 U.S.C. 2601 et seq., and under Regulation X, 24 C.F.R. part 3500, as enacted or promulgated on January 1, 2010; (b) The disclosures related to the transaction that are required under the Truth in Lending Act, 15 U.S.C. 1601 et seq., and under Regulation Z, 12 C.F.R. part 226, as enacted or promulgated on January 1, 2010; and (c) A statement notifying the borrower that loan documents associated with the transaction will be in English and advising the borrower to obtain appropriate assistance with any necessary translations. (3) The Director of the Department of Consumer and Business Services shall develop and distribute translated versions of the materials identified in subsection (2) of this section in the three languages other than English that are most commonly spoken in this state. [2009 c.603 §3; 2009 c.863 §39]
OR Rev Stat § 86A.206 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.206 - Application for license; information and materials required for application; rules.

(1) The Director of the Department of Consumer and Business Services by rule shall determine the manner in which an applicant must apply and the form and contents of an application for a license to conduct business as a mortgage loan originator. (2) In connection with an application under this section, an applicant shall apply for and receive a unique identifier from the Nationwide Mortgage Licensing System and Registry. As part of the application, the director by rule shall require the applicant to submit to the director or directly to the Nationwide Mortgage Licensing System and Registry: (a) Fingerprints that the Federal Bureau of Investigation, or another government agency that is authorized to receive fingerprints, can use to perform a state, national and international criminal background check; (b) A summary of the applicant’s personal history and experience on a form prescribed by the Nationwide Mortgage Licensing System and Registry; (c) A document that authorizes the Nationwide Mortgage Licensing System and Registry to obtain, with reference to the applicant: (A) A credit report from a consumer reporting agency, as defined in 15 U.S.C. 1681a(f), or a consumer reporting agency that compiles and maintains files on consumers on a nationwide basis, as defined in 15 U.S.C. 1681a(p); and (B) Information about administrative, civil or criminal proceedings and findings concerning the applicant in any governmental jurisdiction; and (d) Other information the director or the Nationwide Mortgage Licensing System and Registry may require. [2009 c.863 §3]
OR Rev Stat § 86A.209 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.209 - Interim license; findings required.

The Director of the Department of Consumer and Business Services may issue an interim mortgage loan originator’s license to a person that is not licensed under ORS 86A.212 if the director finds that issuing the interim license will facilitate the business of licensed mortgage loan originators or prevent an undue delay in issuing a mortgage loan originator’s license. The director may specify the term of the interim mortgage loan originator’s license and may issue the interim license to an applicant for a mortgage loan originator’s license only if the director finds that the applicant: (1) Is employed by a person that has a valid license or registration from the Department of Consumer and Business Services; (2) Substantially meets the requirements of ORS 86A.206, 86A.212 and 86A.215 as of July 31, 2010; and (3) Has not committed an act prohibited under ORS 86A.236. [2009 c.863 §3a]
OR Rev Stat § 86A.212 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.212 - Findings required for issuing license; basis for denial; rules.

(1) The Director of the Department of Consumer and Business Services may not issue a mortgage loan originator’s license to an applicant unless the director finds, at a minimum, that the applicant: (a) Has obtained a unique identifier from the Nationwide Mortgage Licensing System and Registry. (b) Has not had a mortgage loan originator’s license revoked in another jurisdiction. For purposes of this paragraph, an applicant’s mortgage loan originator’s license was not revoked if an order or decision to revoke the license was later rescinded or vacated. (c) Has not been convicted of or pleaded guilty or no contest in a state, federal, foreign or military court to a felony or to a misdemeanor if an essential element of the misdemeanor involved false statements or dishonesty: (A) During a period of seven years before the date the applicant submits an application under ORS 86A.206; or (B) At any time before the date the applicant submits an application under ORS 86A.206, if the conviction or plea involved a felony and an element of the felony was an act of fraud, dishonesty, a breach of trust or laundering a monetary instrument. For purposes of this paragraph, a conviction that was later pardoned is not a conviction. (d) Has demonstrated financial responsibility sufficient to command the confidence of the community and warrant the determination that the applicant will operate honestly, fairly and efficiently within the purposes of ORS 86A.200 to 86A.239. (e) Has completed the education requirement set forth in ORS 86A.215 and passed a test that meets the standards set forth in ORS 86A.215. (f) Is covered by a surety bond in accordance with the provisions of ORS 86A.227. (2) The director may not: (a) Deny a mortgage loan originator’s license to an applicant because of the applicant’s credit score; or (b) Use information in a credit report as the sole basis for denying the mortgage loan originator’s license. (3) The director shall issue a mortgage loan originator’s license to an applicant if: (a) The director is satisfied that the information contained in the application for a mortgage loan originator’s license is accurate and complete; and (b) No reason exists under subsection (1) of this section to deny the applicant a mortgage loan originator’s license. (4) The director by rule may specify criteria for determining financial responsibility under subsection (1)(d) of this section. [2009 c.863 §4]
OR Rev Stat § 86A.215 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.215 - Education and testing requirements for license; education and test providers.

(1) An applicant for a mortgage loan originator’s license shall: (a) Complete, at a minimum, 20 hours of an approved course of prelicensing education that, at a minimum, must include: (A) Three hours devoted to federal laws and regulations; (B) Three hours devoted to ethics, with instruction concerning fraud, consumer protection and fair lending; and (C) Two hours devoted to lending standards applicable to nontraditional mortgages; (b) Complete additional educational requirements as the Director of the Department of Consumer and Business Services may establish by rule, including on topics of implicit bias, including racial bias; and (c) Pass a qualified written test with a score of 75 percent correct or better. The test must measure the applicant’s knowledge of: (A) Ethics; and (B) Federal and state laws, regulations and rules that apply to residential mortgage loan origination, including laws, regulations and rules that concern fraud, consumer protection, fair lending and nontraditional mortgages. (2) For purposes of this section: (a) An approved course of prelicensing education is a course that the Nationwide Mortgage Licensing System and Registry has reviewed and for which the Nationwide Mortgage Licensing System and Registry has approved the contents, provider, instructional standards and means and methods of delivery, using reasonable standards. (b) A qualified written test is a test that the Nationwide Mortgage Licensing System and Registry develops and for which the Nationwide Mortgage Licensing System and Registry approves the test provider and method of test administration, using reasonable standards. (3) The director shall accept for the purposes of the requirements set forth in subsection (1) of this section an approved course of prelicensing education that an applicant completed in another state. (4) This section does not preclude: (a) An applicant’s employer or a subsidiary, agent or affiliate of the employer from providing an approved course of prelicensing education; or (b) An approved test provider from administering a qualified test at the business location of the applicant’s employer or an affiliate, subsidiary or agent of the employer or at the business location of a person with which the employer has an exclusive contractual arrangement related to mortgage loan origination. (5) An applicant may take a qualified test four consecutive times, provided that each test administration occurs 30 days after a previous test administration. If the applicant fails the approved test four consecutive times, the applicant must wait at least six months before retaking the test. [2009 c.863 §5; 2021 c.506 §1]
OR Rev Stat § 86A.218 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.218 - License renewal; expiration; reinstatement; rules.

(1) The Director of the Department of Consumer and Business Services shall renew a mortgage loan originator’s license if the director finds that: (a) The licensed mortgage loan originator continues to meet the requirements set forth under ORS 86A.212; (b) The licensed mortgage loan originator paid the fee required to renew the mortgage loan originator’s license; and (c) The licensed mortgage loan originator satisfied the continuing education requirements set forth in ORS 86A.221. If the licensed mortgage loan originator did not satisfy the requirements under ORS 86A.221, instead of declining to renew the mortgage loan originator’s license, the director by rule or order may permit or require the licensed mortgage loan originator to make up the deficiency in continuing education. (2)(a) A mortgage loan originator’s license expires if: (A) The licensed mortgage loan originator does not apply to renew the mortgage loan originator’s license; (B) The director declines to renew the mortgage loan originator’s license; or (C) The licensed mortgage loan originator does not otherwise maintain eligibility under the requirements set forth in ORS 86A.200 to 86A.239. (b) The director by rule may establish a procedure and requirements for reinstating a license that has expired. The procedure and requirements the director establishes must be consistent with standards established by the Nationwide Mortgage Licensing System and Registry and must at a minimum provide that an applicant for reinstatement who has allowed the applicant’s mortgage loan originator’s license to lapse for a period of five or more years, whether or not the applicant was employed or continued to engage in business as a mortgage loan originator during the period of the lapse, shall: (A) Demonstrate to the director that the applicant completed the continuing education requirements set forth in ORS 86A.221 that were required in the year in which the applicant last held a mortgage loan originator’s license; and (B) Pass the qualified written test as provided in ORS 86A.215. [2009 c.863 §6]
OR Rev Stat § 86A.221 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.221 - Continuing education requirements for mortgage loan originator; credit allowed.

(1) A licensed mortgage loan originator each year shall complete at least eight hours of an approved course of continuing education that: (a) At a minimum, must include: (A) Three hours devoted to federal laws and regulations; (B) Two hours devoted to ethics, with instruction concerning fraud, consumer protection and fair lending; and (C) Two hours devoted to lending standards applicable to nontraditional mortgages; and (b) May include additional requirements as the Director of the Department of Consumer and Business Services may establish by rule, including on topics of implicit bias, including racial bias. (2) For purposes of this section, an approved course of continuing education is a course that the Nationwide Mortgage Licensing System and Registry has reviewed and for which the Nationwide Mortgage Licensing System and Registry has approved the contents, provider, instructional standards and means and methods of delivery, using reasonable standards. (3) This section does not preclude a licensed mortgage loan originator’s employer or a subsidiary, agent or affiliate of the employer from providing an approved course of continuing education. (4) For the purposes of the requirement set forth in subsection (1) of this section, the director shall accept an approved course of continuing education that a licensed mortgage loan originator completed in another state. (5) A licensed mortgage loan originator: (a) May receive credit for a continuing education course only in the year in which the licensed mortgage loan originator takes the course, unless the director under ORS 86A.218 permits or requires the mortgage loan originator to make up a deficiency in continuing education; and (b) May not for the purposes of meeting the requirement set forth in subsection (1) of this section take the same approved course of continuing education in the same year or in any two successive years. (6) A licensed mortgage loan originator who is also approved as an instructor for an approved course of continuing education may receive two hours of credit toward the licensed mortgage loan originator’s own continuing education requirement for each hour of the approved course of continuing education that the licensed mortgage loan originator teaches. [2009 c.863 §7; 2021 c.506 §2]
OR Rev Stat § 86A.227 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.227 - Corporate surety bond required; right of action; rules.

(1) A person that employs a mortgage loan originator shall file with the Director of the Department of Consumer and Business Services a corporate surety bond that runs to the State of Oregon and that covers each mortgage loan originator the person employs. The corporate surety bond must be issued by a corporate surety or an insured institution, as defined in ORS 706.008, that is authorized to transact business in this state. (2) The director by rule shall: (a) Prescribe the form of the corporate surety bond; (b) Require the person to maintain the corporate surety bond in an amount that reflects the dollar amount of the loans the person originated or in a minimum amount the director specifies; and (c) Prescribe other requirements for the corporate surety bond as are necessary to accomplish the purposes of ORS 86A.200 to 86A.239. (3) A right of action against the corporate surety bond required under this section exists to the same extent that a right of action exists under ORS 86A.151. (4) The director may require the person to file a new corporate surety bond if an action is commenced against the corporate surety bond on file with the director. The person shall file a new corporate surety bond immediately if a recovery is obtained against the bond. [2009 c.863 §9]
OR Rev Stat § 86A.239 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.239 - Display of license and unique identifier; rules; report of condition.

(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. [2009 c.863 §13]
OR Rev Stat § 86A.242 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.242 - Rules.

The Director of the Department of Consumer and Business Services may adopt, amend and repeal rules that are necessary to carry out the provisions of ORS 86A.200 to 86A.239. [2009 c.863 §13a]
OR Rev Stat § 86A.300 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.300 - Short title.

ORS 86A.303 to 86A.339 may be cited as the Mortgage Loan Servicer Practices Act. [2017 c.636 §1]
OR Rev Stat § 86A.312 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.312 - Licensee’s principal place of business; registered agent; assumed business name.

(1) A licensee shall designate and maintain a principal place of business at or from which the licensee services residential mortgage loans in this state and shall designate a registered agent in this state. (2)(a) If a licensee does not maintain a principal place of business in this state the licensee shall nevertheless designate a registered agent in this state. The registered agent must be available to receive on the licensee’s behalf any notice, demand or service of process permitted by law to be given, made or delivered to, or served upon, the licensee. (b) If the licensee does not designate a registered agent in this state, or if the licensee’s registered agent cannot with reasonable diligence be located, the Director of the Department of Consumer and Business Services is the licensee’s registered agent. (3) A licensee may not use or operate under an assumed business name unless the licensee first registers the assumed business name under ORS chapter 648 and lists the name on an application under ORS 86A.309 or in a notice to the director under ORS 86A.318. [2017 c.636 §5]