An official website of the State of Oregon
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Senate Bill 98, passed by the 2017 Oregon Legislature and effective Jan. 1, 2018, requires companies to get a license from the Division of Financial Regulation in order to service Oregon residential mortgage loans. This license is separate from the license to originate mortgage loans. Effective Jan. 1, 2018, a company that both originates and services mortgage loans must have both a mortgage lender license and a mortgage servicer license.
The division is working on rulemaking to implement the new licensing and regulation program. We issued temporary rules to accept applications and issue licenses on Jan. 1, 2018. We will continue with the standard rulemaking process to implement permanent rules for licensing and regulation. When more information is available on this process, you can find it on our
Laws and Rules page in the Proposed Rules section.
All applications for an Oregon mortgage servicer license must be filed through the Nationwide Mortgage Licensing System (NMLS). The NMLS website has
instructions on how to submit an application for Oregon, or any other state. NMLS has a
resources and support section that may be helpful, particularly for first-time users.
An application for a mortgage servicer license submitted through the NMLS must meet all of the following requirements:
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