Oregon Administrative Rules
Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION
Division 890 - LICENSING OF MORTGAGE SERVICERS
Section 441-890-0050 - Rules for Use of an Assumed Business Name
Universal Citation: OR Admin Rules 441-890-0050
Current through Register Vol. 63, No. 3, March 1, 2024
(1) In addition to any requirements for registering an assumed business name with the Secretary of State, a mortgage servicer who intends to use an assumed business name to identify the person's mortgage servicer business shall also comply with the following before doing business under the assumed business name:
(a)
If the assumed business name contains words or phrases described in ORS
56.023,
the mortgage servicer must obtain specific written approval from the director
under ORS
705.635
and OAR 441-005-0010.
(b) The
mortgage servicer must list the name as an other trade name on the company's
MU1 in NMLS.
(2) Regardless of the lack of any ownership interest in the assumed business name, the mortgage servicer is responsible for all actions of those acting under the assumed business name which relate to mortgage servicing.
Statutory/Other Authority: ORS 86A.309
Statutes/Other Implemented: ORS 86A.312
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