Or. Admin. Code § 441-890-0010

Current through Register Vol. 64, No. 1, January 1, 2025

Section 441-890-0010 - Biographical Information Required for Mortgage Servicer License Application

(1) Each of the following persons listed in section (2) of this rule shall submit a Form MU2 to the director of the Department of Consumer and Business Services through the NMLS.

(2) This rule applies to:

(a) Any director, officer, and a shareholder with a direct or indirect ownership of greater than or equal to ten percent of outstanding shares of a corporate applicant;

(b) The owner, if the applicant is an unincorporated sole proprietorship;

(c) Each managing partner of a limited partnership or a partner in a general partnership with a partnership interest greater than or equal to ten percent of the total partnership interests in the general or limited partnership;

(d) A member or managing member in a limited liability company with an ownership interest greater than or equal to ten percent of the total membership interests in the limited liability company; and

(e) Each manager of a branch office.

Or. Admin. Code § 441-890-0010

FSR 9-2017, temporary adopt filed 10/20/2017, effective 10/20/2017 through 04/17/2018; FSR 3-2018, adopt filed 04/16/2018, effective4/17/2018; FSR 8-2018, minor correction filed 05/16/2018, effective 5/16/2018

Statutory/Other Authority: ORS 86A.309

Statutes/Other Implemented: ORS 86A.309