Oregon Administrative Rules|Section 441-890-0015 - Deficiencies in Mortgage Servicer License Application

                                                
Current through Register Vol. 60, No. 12, December 1, 2021 
(1) If an applicant or licensee submits an application, filing, or amendment, which is incomplete in any respect, the director shall notify the applicant or licensee of the deficiencies through the NMLS. The applicant or licensee shall correct a deficiency associated with an application, filing, or amendment within 30 days of being notified through the NMLS that the director placed a deficiency on the person's application, filing, or amendment. A challenge submitted to the NMLS as set out in OAR 441-850-0050 shall halt the 30-day period of time for correcting deficiencies for the duration of the challenge process.
 
(2) If the applicant fails to complete the application or respond to deficiencies within 30 days, the application will be considered abandoned. Any fees paid by the applicant under OAR 441-890-0040 will not be refunded due to abandonment. An applicant whose application is abandoned under this rule may reapply to obtain a mortgage servicer license.
 
Or. Admin. R. 441-890-0015
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 9-2018, minor correction filed 05/16/2018, effective 5/16/2018
Statutory/Other Authority: ORS 86A.309
 
Statutes/Other Implemented: ORS 86A.309
This section was updated on 6/22/2018 by overlay.