Oregon DFR joins other states in settlement against E Mortgage for unlicensed activity

Oct. 23, 2025

Salem – The Oregon Division of Financial Regulation (DFR) has reached a multi-state settlement with E Mortgage Capital, which is based in Irvine, Calif., resolving allegations of unlicensed lending activity and other violations.

Oregon joined Hawaii, Idaho, and Texas in the multi-state settlement agreement, which imposed fines totaling $669,000.

In their examinations, mortgage regulators determined E Mortgage allowed unlicensed mortgage loan originators (MLOs) in their states to originate and earn commissions on 50 different transactions. Idaho and Texas officials also claimed unlicensed loan processors performed functions that should have been prohibited in their states in over 125 instances.

Additionally, Oregon regulators determined that E Mortgage's remote work-from-home plan lacked adequate inspections and insufficient supervision of MLOs. There were 27 instances in Oregon where E Mortgage engaged in a remote work-from-home plan that was insufficient to adequately inspect remote work locations. Participating states view this as having an inadequate supervision plan and supervision of MLOs.

Regulators also found E Mortgage, in the years 2021, 2022, and 2023, engaged in unlicensed activity by allowing unlicensed MLOs to conduct origination activity. E Mortgage paid these unlicensed MLOs commissions when the MLOs were not licensed to originate loans in the participating states. Each state's number of violations were Hawaii (7), Idaho (16), Oregon (13), and Texas (14).

The participating regulators determined that E Mortgage failed to cooperate or respond to examiners' request for information and refused to provide examiners access to its Loan Origination System.

The company agreed to cease mortgage originations coming via unlicensed loan officers and processing activity involving ineligible employees.

“Protecting Oregon consumers means ensuring mortgage companies play by the rules," said TK Keen, DFR administrator. “When firms fail to supervise their employees or cooperate with examiners, we take action to safeguard consumers and the integrity of the lending system."

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About Oregon DFR: The Division of Financial Regulation protects consumers and regulates insurance, depository institutions, trust companies, securities, and consumer financial products and services. The division is part of the Department of Consumer and Business Services, Oregon's largest consumer protection and business regulatory agency. Visit dfr.oregon.gov and dcbs.oregon.gov.