Oregon Administrative Rules
Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION
Division 860 - LICENSING OF MORTGAGE BANKERS AND MORTGAGE BROKERS
Section 441-860-0050 - Renewal of Mortgage Banker and Mortgage Broker License
Current through Register Vol. 63, No. 9, September 1, 2024
(1) A mortgage banker or a mortgage broker license shall expire on December 31 of each calendar year. At least 30 days prior to the expiration of a mortgage banker or mortgage broker license, the mortgage banker or the mortgage broker shall submit a renewal request for the license to the director through the Nationwide Mortgage Licensing System and Registry and shall:
(2) A mortgage banker or mortgage broker shall each calendar year:
(3) The director may refuse to renew a license if a reason exists under ORS 86A.095 through 86A.198 or 86A.200 through 86A.239.
(4) If a mortgage banker or mortgage broker submits an application for renewal which is incomplete in any respect, the director shall notify the mortgage banker or broker of the deficiencies on the application. The mortgage banker or mortgage broker shall have 30 days from the date of the notice or the end of the renewal period, whichever occurs first, to complete the application for renewal. If the mortgage banker or mortgage broker fails to complete the application for renewal, and the license shall be terminated on the expiration date by reason of failure to renew.
Stat. Auth.: ORS 86A.106, 86A.109, 86A.136
Stats. Implemented: ORS 86A.109, 86A.151