2017 ORS 86A.103¹
License required to engage in residential mortgage transactions as mortgage banker or mortgage broker

(1) It is unlawful for any person to engage in residential mortgage transactions in this state as a mortgage banker or mortgage broker unless the person is licensed under ORS 86A.095 to 86A.198 (Materials in languages other than English). A person who is a mortgage banker or mortgage broker under ORS 86A.100 (Definitions), but who does not engage in residential mortgage transactions in this state, is not required to obtain a license under ORS 86A.095 to 86A.198 (Materials in languages other than English).

(2) For purposes of this section, a person “engages in residential mortgage transactions in this state” when any act constituting the business of a mortgage banker or mortgage broker and involving a residential mortgage transaction originates from this state or is directed to and received in this state or when the real estate that is the subject of the activities of the mortgage banker or mortgage broker is located in this state. [Formerly 59.845]

1 Legislative Counsel Committee, CHAPTER 86A—Mortgage Lending, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors086A.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.