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Become A Mortgage Broker In Oregon

Article Summary: This article will help anyone looking for information pertaining to a mortgage license in the state of Oregon or anyone looking to become a mortgage broker in Oregon.

The Division of Finance & Corporate Securities of the Oregon Department of Consumer & Business Services (DCBS), is responsible for the supervising and licensing of Mortgage Brokers doing business within Oregon. Mortgage Brokers are defined as those who make or negotiate mortgage loans.

Applicants who desire to become a Mortgage Broker in Oregon pay an $825 initial license fee. The renewal license fee is also $825. Applicants provide a Surety Bond in the amount of $25,000.

Applicants need to show 3 years experience in the mortgage lending business during the last 5 years and provide financial statements prepared in accordance with GAAP. Mortgage Brokers are required to maintain a clients’ trust account physically within the state.

Loan Originators are required to have both continuing education courses and pass an approved examination. The DSBS also conducts a Criminal Investigation on all Loan Originators.

The Oregon Association of Mortgage Professionals (OAMB), www.oamb.com, is an affiliate of the National Association of Mortgage Brokers (NAMB), www.namb.org. These organizations are quite active in promoting and supporting legislation and education to assist those who desire to obtain a Mortgage Broker License in Oregon.

We also offer information and resources for Oregon Commercial Mortgage.

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