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2017 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 086A - Mortgage Lending
Section 86A.178 - Legislative findings regarding mortgage loan originators; prohibited practice.
Universal Citation: OR Rev Stat § 86A.178 (2017)
(1) The Legislative Assembly finds and declares that:
(a) The public interest is served by identifying a mortgage loan originator with a specific mortgage banker or mortgage broker; and
(b) The public must be protected from the conflicts of interest created when a mortgage loan originator is employed by more than one mortgage lender.
(2) A mortgage loan originator may not originate loans for more than one mortgage banker, mortgage broker or other mortgage lender or independent mortgage agency at the same time. [Formerly 59.967]
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