Oregon Administrative Rules
Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION
Division 880 - LICENSING OF MORTGAGE LOAN ORIGINATORS
Section 441-880-0215 - Oregon Examination For Mortgage Loan Originators

Universal Citation: OR Admin Rules 441-880-0215

Current through Register Vol. 63, No. 9, September 1, 2024

(1) Each applicant for a mortgage loan originator license must pass an entry-level examination approved by the National Mortgage Licensing System and Registry and an examination on Oregon statutes and rules approved by the director and the National Mortgage Licensing System and Registry prior to engaging in activities as an Oregon mortgage loan originator.

(a) A passing score on either examination described in section (1) of this rule is 75 percent or greater.

(b) A passing score on either examination described in section (1) of this rule is valid for 2 years from the date of passing the examination.

(2) An applicant that fails to pass an examination may retake the examination consistent with ORS 86A.215.

(3) Notwithstanding section (2), an applicant that knowingly acts in a dishonest or deceitful manner in connection with an examination required under this rule is considered to have engaged in an act, practice or course of business that operates or would operate as a fraud or deceit as used in ORS 86A.236(2). In addition to other remedies available, the director may refuse to issue the person a license as a mortgage loan originator.

Stat. Auth.: ORS 86A.242

Stats. Implemented: ORS 86A.215

Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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