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Mortgage lender licensing

Mortgage banker, broker, and lender licensing

Companies that want to offer mortgage loans in Oregon must obtain a license through the division. The loan originators working for the company must also be individually licensed and the company must sponsor the license.

How to apply

All mortgage banker, broker, and lender companies must apply for a license 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.

Applicant requirements

An applicant for a mortgage banker, broker or lender license must:

  • Establish a clients’ trust account at a bank that has a physical branch in Oregon if the company is going to accept refundable funds prior to close of escrow then upload to NMLS a completed Notice of Clients’ Trust Account. If the company will not collect refundable funds prior to close of escrow, the company must upload to NMLS a completed Affidavit and Undertaking – No Clients’ Trust Account.
  • Submit via NMLS an electronic surety bond in the minimum amount of $50,000 for a brand new licensee. At renewal of the license, the company will be required to provide a bond based upon the scale provided for in Oregon law.
  • Complete the application in NMLS, including:
    • Identify the Experienced Person (Qualified Individual), which is an owner or W-2 full-time employee of the company that in the past five years has at least three years experience in mortgage lending
    • Pay the non-refundable application fee of $960 and $100 NMLS user fee (total of $1,060)

Required disclosure questions

Your company must answer disclosure questions through the NMLS application process. If you answer yes to any disclosure question, you must provide an explanation. This chart details information that you must provide in response to an affirmative answer.

​Mortgage licensing resources