Oregon Administrative Rules
Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION
Division 870 - DISHONEST, FRAUDULENT, UNFAIR AND UNETHICAL PRACTICES
Section 441-870-0030 - Borrower Transactions

(1) Making any representation or guarantee to a customer that a loan can be secured by a date certain;

(2) Entering into a lock agreement for a specific interest rate or advertising the availability of a lock agreement for a specific interest rate unless:

(3) Making a representation to a customer that interest rates, points, or other financing terms are available at the time the representation was made unless the interest rates, points, or terms are actually available within the time frame represented from:

(4) Failing to disclose in writing to a borrower before negotiating loan terms for a mortgage loan that the person, mortgage banker or mortgage broker, or mortgage loan originator has a verbal or written contract, joint venture agreement or any other type of understanding with a builder or a realtor who is a party to the transaction and that this relationship may result in the borrower getting less favorable loan terms.

(5) Failing to refund within 72 hours of rejecting a loan, the advance fees paid which have not been distributed pursuant to a signed loan agreement or, in the event the loan agreement does not contain provisions for acceptance and distribution of advance fees, pursuant to a fee agreement;

(6) Failing to account, after reasonable notice, to any person whose property secures a loan made by the mortgage banker or mortgage broker for any money which that person has paid to the mortgage banker or mortgage broker for the payment of third party obligations including, but not limited to, appraisal fees, title search fees, taxes, and insurance premiums;

(7) Failing to comply within 30 working days of a written request by a borrower made within 90 days of notice that the loan will not be obtained, for copies of any appraisal, title report, or credit report paid for by the borrower, unless the agreement between the mortgage banker or mortgage broker and the credit service prohibits such distribution;

(8) Providing a savings statement to the borrower, unless:

(9) Requiring or permitting a consumer to sign promissory notes and trust deeds prior to:

(10) Delaying release of loan funds to the borrower, the borrower's approved representative or escrow for more than one business day following recording of the lien.