Late CE - 2 Hour Online SAFE CE – Oregon State Law

Summary

 
THIS IS LATE CE. IT IS INTENDED TO SATISFY EDUCATION REQUIREMENTS FOR 2023 or EARLIER. THIS COURSE WILL NOT GIVE CREDIT FOR 2024.

This 2 hour course covers Oregon law and regulations pertaining to mortgage lending, loan servicing and loan brokering, in addition to rules regarding high-cost home loans.  The following laws will be covered in the course:

 

·         The Oregon Mortgage Lending Law and Oregon SAFE Act (ORS Chapter 86A)

(https://www.oregonlegislature.gov/bills_laws/ors/ors086A.html)

·         OAR Chapter 441, Divisions 850 through 885

(Division 850:  http://arcweb.sos.state.or.us/pages/rules/oars_400/oar_441/441_850.html)

(Division 860: http://arcweb.sos.state.or.us/pages/rules/oars_400/oar_441/441_860.html)

(Division 865: http://arcweb.sos.state.or.us/pages/rules/oars_400/oar_441/441_865.html)

(Division 870: http://arcweb.sos.state.or.us/pages/rules/oars_400/oar_441/441_870.html)

(Division 875: http://arcweb.sos.state.or.us/pages/rules/oars_400/oar_441/441_875.html)

(Division 880: http://arcweb.sos.state.or.us/pages/rules/oars_400/oar_441/441_880.html)

·         Oregon Mortgage; Trust Deeds (ORS Chapter 86)

(https://www.oregonlegislature.gov/bills_laws/ors/ors086.html)

·         Oregon Mortgage Fraud Prevention Act (ORS 646A.700 – 646A.765)

(https://www.oregonlegislature.gov/bills_laws/ors/ors646A.html)

·         Oregon Identity Theft Protection Act (ORS 646A.600 – 646.628)

(ORS 646A.600 - 646A.760:  https://www.oregonlegislature.gov/bills_laws/ors/ors646A.html)

(ORS 646.010 - 646.628: https://www.oregonlegislature.gov/bills_laws/ors/ors646.html)

·         Interest; Repayment Restrictions (ORS Chapter 82)

(https://www.oregonlegislature.gov/bills_laws/ors/ors082.html)

·         Unlawful Trade Practices Act (ORS 646.605)

(https://www.oregonlegislature.gov/bills_laws/ors/ors646.html)

·         Oregon Real Estate Law (licensing) (ORS 696.010 to ORS 696.020)

(https://www.oregonlegislature.gov/bills_laws/ors/ors696.html)

 

The course is divided into five sections:

Section 1: Overview and Definitions.Outlines the purpose and authority of each law and sets forth definitions used throughout both laws.

Section 2: License Maintenance.  Covers the OregonMortgage Lending Law, Oregon SAFE Act and Oregon Real Estate Law regarding requirements for renewing and maintaining licenses.

Section 3: Acts and Practices.Covers permissible and prohibited acts and practices with respect to lending and broker activity and usury statutes and guidelines for Clients’ Trust Accounts.

Section 4: Compliance and Consumer Protection. Covers permissible and prohibited fees and charges, disclosures and agreements, advertising and consumer protection requirements.

Section 5: Disciplinary Action.Covers notifications and investigations actions, suspension / revocation of licenses, penalties and fines, and civil and criminal liabilities.

Learning Objectives

Upon successful completion of this course you will have a strong understanding of the laws and regulations specific to mortgage loan originators and lenders in the state of Oregon.