2011 ORS § 407.179¹
Additional powers delegated to lending institution
  • authority retained by department

In addition to the powers described in ORS 407.177 (Loan processing and servicing contracts with lending institutions), the Department of Veterans Affairs also may delegate by contract to a lending institution any of the powers granted to the department in ORS 407.165 (Authority to hold certain funds received from borrower) and 407.225 (Investigation and processing of loan application). The department shall retain final authority to approve or disapprove loans and interpret the duties and responsibilities of borrowers under this chapter. [1989 c.746 §4; 1995 c.238 §5; 2005 c.625 §27]