2017 ORS 86A.339¹
Additional duties of mortgage loan servicer
  • prohibited practices

(1) A person that performs a residential mortgage loan modification service for compensation or gain shall:

(a) Comply with all applicable state and federal laws;

(b) Provide the borrower with a summary of the material terms of any agreement under which the licensee provides services related to a modification of the borrower’s residential mortgage loan; and

(c) Inform the borrower immediately in writing if:

(A) The owner of the residential mortgage loan needs additional information to process or consider the request; or

(B) The owner of the residential mortgage loan will not consider a modification of the terms.

(2) A person that performs a residential mortgage loan modification service for compensation or gain may not:

(a) Charge a fee before providing the service for which the person charges the fee;

(b) Charge a fee that is not reasonable or that exceeds the usual and customary fees for the service the person provides; or

(c) Require or encourage a borrower, as a condition of modifying the terms of a residential mortgage loan or providing a service related to modifying the terms of a residential mortgage loan, to:

(A) Waive the borrower’s:

(i) Legal defenses, available counterclaims or other legal rights against the person;

(ii) Right to contest a foreclosure; or

(iii) Right to receive notice before a foreclosure proceeding begins;

(B) Pay a fee, charge or assessment for which the residential mortgage loan agreement, a servicing agreement or a related agreement does not provide; or

(C) Cease communications with the person, the trustee or beneficiary in a trust deed, the owner or a servicer of the borrower’s residential mortgage loan or any other person with which the borrower has the right or duty to communicate concerning the residential mortgage loan.

(3) A person that does not comply with subsection (1) of this section or that engages in conduct that is prohibited under subsection (2)(a) or (b) of this section violates ORS 86A.154 (Fraud and deceit with respect to mortgage banker or mortgage broker business). [2017 c.636 §14]

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.