OR Rev Stat § 86A.115 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 086A - Mortgage Lending|Section 86A.115 - Grounds for denying, suspending, conditioning or revoking license.

Except as provided in ORS 86A.118, the Director of the Department of Consumer and Business Services may by order deny, suspend, condition or revoke a license if the director finds that the applicant or licensee: (1) Is insolvent, either in the sense that the liabilities of the applicant or licensee exceed the assets of the applicant or licensee or that the applicant or licensee cannot meet the obligations of the applicant or licensee as the obligations mature, or that the applicant or licensee is in such financial condition that the applicant or licensee cannot continue in business with safety to the customers of the applicant or licensee. (2) Engaged in dishonest, fraudulent or illegal practices or conduct in any business or profession or unfair or unethical practices or conduct in connection with the mortgage business. (3) Willfully or repeatedly violated or failed to comply with a provision of ORS 86A.095 to 86A.198 or a rule or order of the director. (4) Failed, in conducting business as a mortgage banker or mortgage broker, to comply with the provisions of: (a) The Truth in Lending Act, 15 U.S.C. 1601 et seq. and Regulation Z, 12 C.F.R. part 226, as in effect on October 1, 2009; (b) The Real Estate Settlement Procedures Act, 12 U.S.C. 2601 et seq. and Regulation X, 24 C.F.R. part 3500, as in effect on January 1, 2010; (c) The Equal Credit Opportunity Act, 15 U.S.C. 1691 et seq. and Regulation B, 12 C.F.R. 202.9, 202.11, 202.12 and 202.14, as in effect on July 30, 2009; or (d) 12 U.S.C. 5101 et seq. and regulations adopted under 12 U.S.C. 5101 et seq. (5) Was convicted of a misdemeanor, an essential element of which is fraud, or of a felony. (6) Filed an application for a license that, as of the date the license was issued, or as of the date of an order that denied, suspended, conditioned or revoked a license, was incomplete in any material respect or contained a statement that was, in light of the circumstances under which the statement was made, false or misleading with respect to a material fact. (7) Failed to account to persons interested for money or property received in connection with a mortgage loan. (8) Is permanently or temporarily enjoined by a court of competent jurisdiction from engaging in or continuing conduct or a practice that involves an aspect of the mortgage business. (9) Is subject to an order of the director that denies, suspends, conditions or revokes a license. (10) Is subject to a United States Postal Service fraud order that is currently effective and was issued within the last five years. (11) Does not have the experience required by ORS 86A.106 (2) or (3). (12) Failed to comply with the requirements of ORS 86A.112 to make and keep records prescribed by rule or order of the director, to produce such records required by the director or to file any financial reports or other information the director by rule or order may require. (13) Is subject to an order of the director that denies, suspends, conditions or revokes a license under any other law the director administers. (14) Is subject to a cease and desist order the director entered within the previous five years after the applicant or licensee had notice and an opportunity for a hearing. (15) Demonstrated negligence or incompetence in performing any act for which the licensee is required to hold a license. (16) Failed to supervise diligently and control the mortgage-related activities of a mortgage loan originator the licensee employs. (17) Knowingly misrepresented to the director the training of, examination of or continuing education time earned by a mortgage loan originator the licensee employs. (18) Willfully or repeatedly employed individuals as mortgage loan originators who do not meet the training, education or continuing education requirements for mortgage loan originators. (19) Failed to notify the director of the termination of a mortgage loan originator for failure to comply with state or federal laws, regulations or rules. [Formerly 59.865]