OAR 441-880-0320: Notice of Significant Events by Mortgage Loan Originator

A mortgage loan originator shall be required to notify the director within 30 days of the occurrence of any of the following significant developments: (1) Filing for bankruptcy; (2) Notice that a state began license revocation proceedings against the mortgage loan originator; (3) Filing of a felony indictment against the mortgage loan originator; (4) Convictions for any felony or conviction for a misdemeanor involving fraud; (5) Instances of material litigation occurring against the mortgage loan originator; (6) Changes in the information required on the mortgage loan originator’s application form, including, but not limited to address changes, phone number changes, and other information; and (7) Changes in the employment status of a mortgage loan originator.