OAR 441-880-0300: License Renewal; Reinstatement Process

(1) A mortgage loan originator license shall expire on December 31 of each calendar year. At least 30 days prior to the expiration of a mortgage loan originator license, a mortgage loan originator shall submit all information required to the National Mortgage Licensing System and Registry. The renewal application shall include evidence that: (a) The mortgage loan originator attests that all information contained in the renewal request and application is true and accurate; (b) The applicant continues to meet the minimum requirements for a mortgage loan originator license in ORS 86A.212; (c) The applicant paid any required fee, as applicable, under OAR 441-880-0400; and (d) The applicant completed twenty hours of pre-licensure education or ten hours of continuing education that comply with the requirements in OAR 441-880-0310. (2) A person applying to reinstate a mortgage loan originator license that has lapsed for a period of five or more years, whether or not the applicant was employed or continued to engage in business as a mortgage loan originator during the period of the lapse, shall: (a) Complete the continuing education requirements under this section (1) of this rule; and (b) Pass a qualified written test under ORS 86A.215 and OAR 441-880-0215.