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Oregon.gov Licenses, Permits and Registrations
Department of Consumer & Business Services
Detailed Information for: Mortgage Lender License
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Updated: 1/30/2014
Description: Mortgage bankers lend money to fund loans secured by interests in real estate and they either sell or service the loans. Mortgage brokers sell real estate paper for themselves or for others or accept funds from others to invest in real estate paper. Mortgage brokers also make or negotiate mortgage loans. The mortgage lender license permits a company to act as a mortgage banker, mortgage broker or both.


Similar Keywords: bankers, brokers, finance, financing, homes, houses, lenders, lending, lending officers, loans, mortgages, officers, origination, originators, property
Statutes, Rules, Ordinances: OAR 441-860
http://www.oregonlegislature.gov/bills_laws/lawsstatutes/2013ors086a.html
Duration: See additional information below
Fees - application, exam, etc.: 
  • Initial license: $960 for the principal office and $330 per branch office
  • Renewal license: $480 for the principal office, $165 to renew an existing branch
Responsible Agency: Finance & Corporate Securities Div DFCS - Licenses
Bonding Requirements: Click here for specific information about bonding requirements.
Insurance Requirements: None
Prerequisites:
  • A completed mortgage lender license application form listing the company's experience person. The experience person must be a full time W-2 employee or an owner who within the past 5 years has three years experience in mortgage lending.
  • Financial statements prepared in accordance with GAAP.
  • Surety bond (click here for specific information about bonding requirements).
  • Notice of a clients' trust account physically located in Oregon.
  • Registration with the Secretary of State Corporation Division of the primary company name and all assumed business names.
  • The mortgage lender must conduct a criminal records check of each individual who the banker or broker employs or intends to employ as a loan originator. A loan originator applicant may not be hired if the criminal records check discloses a disqualifying conviction.
Application Form: Mortgage Lender Application
Service Links:  Division Web site, Mortgage Lenders Section
 Search License Holders
contact Agency Contact Information
Additional Information: Overnight mail address
    350 Winter St NE, Room 410
    Salem, OR 97301-3881


License duration information
The license is for one year. All licenses expire December 31 of each year.

  Agency Information
Please refer to the Agency Website for further details and additional information.
Agency Name: Finance & Corporate Securities Div DFCS - Licenses
E-mail Address: dcbs.dfcsmail@state.or.us
Phone: 503-378-4140
Mail Address: Division of Finance & Corporate Securities
PO Box 14480
Salem, OR 97309 - 0405
Website Information: http://dfcs.oregon.gov/

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