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.
All Oregon mortgage licenses are handled through the National Mortgage Licensing System.
Prelicensing requirements include approved Courses that are 20 or more hours and contain 3
hours of Federal Law, 3 hours of Ethics, 2 hours of Non-traditional Mortgage Lending plus
12 or more hours of electives. This may be in addition to Oregon-required content. A
minimum of eight hours per year of continuing
education is required per year, per the SAFE act.
The licensing fee for NMLS for Loan
Originators is $169. The licensing fee for a broker
is $650. Click on the links in the preceding sentences for more details about each
Broker 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
The Oregon Association of Mortgage Professionals
(OAMP) , is an affiliate of the National Association of
(NAMB). 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.
Oregon Mortgage Forms
Oregon Reciprocity States
- Most Mortgage forms can be obtained online.
Ones listed below pertain to new salespersons and brokers.
- Surety Bond Form
(as of 2/23/2010)
Oregon Approved Mortgage Schools Prelicensing and Postlicensing
Abacus Mortgage Training
|Last Update: 2/22/2010
This list may not include all approved schools. Please visit the Division of Finance & Corporate Securities
website for the latest list of approved schools.