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Mortgage licensing / Oregon

Oregon Mortgage Lending License

company licence · NMLS ORLENDING_C · DFR

Companies that want to offer mortgage loans in Oregon must obtain a license through the division.

Requirements (15)

  1. Step 1

    Other Trade Name: If operating under a name that is different from the applicant’s legal name, that name (“Trade Name”, “Assumed Name” or “DBA”) must be listed under the Other Trade Names section of the Company Form (MU1). Oregon Division of Financial Regulation does not limit the number of other trade names. If operating under an “Other Trade Name”, upload documents showing that the other trade name has been registered with the Oregon Secretary of State and the company is authorized to do business under that trade name. This document should be named OR Mortgage Lender Trade Name – Assumed Name

    Submitted via: Upload in NMLS: under the Document Type Trade Name/Assumed Name Registration Certificates in the Document Uploads section of the Company Form (MU1).

  2. Step 2

    Resident/Registered Agent: The Resident/Registered Agent section of the NMLS Company Form should be completed with the information currently on record with the Oregon Secretary of State Corporation Division.

    Submitted via: NMLS

  3. Step 3

    Qualifying Individual: The Qualifying Individual field should be completed with the information for the person that the company identifies as the “Experienced Person.” Oregon law requires that each licensee identify an Experienced Person responsible for the company who has at least three years experience in mortgage lending in the last five years.

    Submitted via: NMLS

  4. Step 4

    Financial Statements: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

    Submitted via: NMLS

  5. Step 5

    Financial Statements: The statement must be no more than 6 months old. Financial statements should include a Balance Sheet, Income Statement and Statement of Cash Flows and all relevant notes thereto. If applicant is a start-up company, only an initial Statement of Condition is required.

  6. Step 6

    Business Plan: Upload a business plan outlining marketing strategy, products, target markets and operating structure the applicant intends to employ.

    Submitted via: Upload in NMLS: under the Document Type “Business Plan” in the Document Uploads section of the Company (MU1) Form.

  7. Step 7

    Certificate of Authority/Good Standing Certificate: Upload a state-issued document (typically by the state’s Secretary of State office) demonstrating that the corporation or limited liability company (LLC) exists or is authorized to do business in the state.

    Submitted via: Upload in NMLS: under the Document Type “Certificate of Authority/Good Standing Certificate” in the Document Uploads section of the Company (MU1) Form.

  8. Step 8

    Formation Document: Upload a certified copy of: • The Corporate Charter or Articles of Incorporation (if a corporation), or • The Articles of Organization and Operating Agreement (if a Limited Liability Company), or • The Partnership Agreement (if a partnership of any form).

    Submitted via: Upload in NMLS: under the Document Type “Formation Document” in the Document Uploads section of the Company (MU1) Form.

  9. Step 9

    Management Chart: Upload an organizational chart showing the applicant’s divisions, officers, and managers.

    Submitted via: Upload in NMLS: under the Document Type “Management Chart” in the Document Uploads section of the Company (MU1) Form.

  10. Step 10

    Organizational Chart/Description: Upload an organizational chart if applicant is owned by another entity or entities or person, or has subsidiaries or affiliated entities.

    Submitted via: Upload in NMLS: under the Document Type “Organizational Chart/Description” in the Document Uploads section of the Company (MU1) Form.

  11. Step 11

    Electronic Surety Bond: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

    Submitted via: NMLS

  12. Step 12

    Trust Accounting: If you NEVER (not even reimbursement at closing) intend to accept monies from borrowers or on behalf of borrowers for the payment of third party service providers, upload to NMLS the completed Affidavit and undertaking - no clients' trust account 440-2776 form using the full legal name of the applicant and all trade names used in Oregon. Click to download form If you do intend to accept client funds, upload to NMLS the completed Notice of Clients' trust account number 440-2777 to report each trust account you’ll use with Oregon State Loans. The form must include the full legal name of the applicant as well as all trade names used in Oregon. The trust account must be located at a federally insured depository institution that has a physical location in Oregon State. Click to download form.

    Submitted via: NMLS

  13. Step 13

    Disclosure Questions: Upload to NMLS a detailed explanation and supporting documents for all events or proceedings for any affirmative answer to any of the disclosure questions for the company and any control person. For more detailed instructions about the materials generally required for any affirmative answer, click here for disclosure questions for individuals and click here for disclosure questions for companies.

    Submitted via: Upload in NMLS: in the Disclosure Explanations section of the Company Form (MU1) or Individual Form (MU2).

  14. Step 14

    State Background Check Required for Oregon MLOs: In addition to the federal criminal background check in NMLS, the sponsoring company MUST conduct state criminal records check of each individual employed by the mortgage company prior to hire or for an existing employee not previously engaging in Oregon residential mortgage transactions, prior to sponsoring the MLO's Oregon license. (OAR 441-860-0045)

  15. Step 15

    Remote Work Policy: If you currently sponsor or plan to sponsor mortgage loan originators who work remotely for any portion of time, you are required to upload a Remote Work Policy for your company. Please ensure the policy includes written procedures outlining the following: • plans for supervision and compliance of MLOs working from home • network security requirements • measures taken to protect consumer information at all times If you do not allow remote work, then please upload an affirmative statement stating that remote work is not allowed.

    Submitted via: Upload in NMLS: under the Document Uploads section of the NMLS under “Company Staffing and Internal Policies” a Remote Work Policy for your company.

General information

Who is required to have the Oregon Mortgage Lending License? • Companies that assist persons in obtaining an Oregon residential mortgage loan. • Companies who make Oregon residential mortgage loans. • Companies who offer to sell or sell residential real estate paper or accept funds for investment in real estate paper. • See the definition of “mortgage broker,” “mortgage banker” and “loan originator” in ORS 86A.100 and OAR 441-850-0005 Who does not need this license? • See ORS 86A.203 Oregon Division of Financial Regulation does not issue paper licenses for this license type. The Oregon Licensing Notice may be printed on the Division’s website for posting in the licensed office.

Other Oregon mortgage licenses

Sourced from the NMLS/CSBS state licensing record, last updated May 28, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.

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