Or. Admin. Code § 137-020-0805

Current through Register Vol. 63, No. 11, November 1, 2024

Section 137-020-0805 - Unfair and Deceptive Acts in Mortgage Loan Servicing

A mortgage loan servicer engages in unfair or deceptive conduct in trade or commerce if the mortgage loan servicer:

(1) Assesses a late fee or delinquency charge for a full payment made on or before the payment's due date or within the grace period applicable for the payment;

(2) Assesses or collects any default-related fee or charge that the servicer is not legally authorized to assess or collect under the terms of the residential mortgage loan, deed of trust, or mortgage;

(3) Misrepresents to a borrower any material information regarding a loan modification;

(4) Misrepresents any information set forth in an affidavit, declaration, or other sworn statement detailing a borrower's default and the servicer's right to foreclose;

(5) Fails to comply with the requirements of the following provisions of the Real Estate Settlement Procedures Act of 1974, as in effect on January 1, 2012: 12 USC 2605(b), 12 USC 2605(c), 12 USC 2605(d), or 12 USC 2605 (e); or,

(6) Fails to deal with a borrower in good faith.

Or. Admin. Code § 137-020-0805

DOJ 4-2012(Temp), f. & cert. ef. 2-15-12 thru 7-24-12; DOJ 12-2012, f. 7-23-12, cert. ef. 7-24-12

Stat. Auth.: ORS 646.608(4)

Stats. Implemented: ORS 646.608(1)(u) and (4)