Oregon Mortgage Broker Bonds

License Overview

Mortgage Brokers in the state of Ohio are regulated by the Division of Finance & Corporate Securities of the Oregon department of Consumer & Business Services. The actual license that is required is called a Mortgage Lender License. This license allows you to act as a Lender or Broker.

The state of Oregon has a Surety Bond Requirement of $25,000 for the central location. Each additional office or branch office is an additional $5,000 worth of bond coverage. The max bond required will be $50,000. The person who is responsible for the bond must have at least 3 years experience in the past 5 years. There is an entry level pre-licensing course that must be completed along with passing an examination by the appointed Loan Originator.

Bad Credit Oregon Mortgage Broker Bonds

Any applicant with less than perfect credit is encouraged to apply with JW Bond Consultants, Inc. We have a special program that is tailored to meet the needs of applicants that are considered higher risk.

Oregon License Requirements

Age: 18

State Residency: N/A

Experience: 3 years in the past 5 years

Education: Pre-licesning work along with exam

Continuing Education: Yes. See state website for details.

Net Worth: N/A

Surety Bond: $25,000 to $50,000

Free Surety Bond Quote

Background Check: Credit check & criminal

Oregon State Licensing Fees

Initial Application: $825

Branch Location: $165

Renewal Application: $825 and $165 per branch

Branch Offices:

In State Requirements: Required to have a license for each location

Licensure Requirements: Must have a designated and licensed Loan Originator on staff

Branch Manager:

Exemptions:

Entities: Bank, Trust Company, Savings and Loan Company, Credit Union, Real Estate Investment Trusts, Attorney, Person acting under the court.

Safe Harbor: None

*This Information for licensing is provided only as a quick reference, make sure you contact the state to verify all information prior to making your application.

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