Oregon Mortgage License Requirements
Learn about the Oregon mortgage education requirements for mortgage licensing.
In the state of Oregon, mortgage loan originators are required to:
- Complete a Criminal Background Check (CBC)
- Authorize a credit report through the NMLS.
- Fulfill all state and federal education requirements as designated by your state agency.
- Take and pass the National Component.
- Bond amount: Covered by sponsor’s bond. If sponsor doesn’t have bond, MLO must provide bond between $50,000 and $200,000.
Oregon NMLS Pre-Licensing Education Requirements:
New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This includes:
- 3 hours of federal law
- 3 hours of ethics
- 2 hours of non-traditional mortgage lending
- 8 hours of electives
- 4 hours of Oregon state-specific education
Note: PE must be completed during the 3 years immediately preceding the date of application.
NOTE: PE education must be completed within 3 years of new or subsequent license application
Oregon Continuing Education Requirements:
State-licensed MLOs are required to complete 10 hours of NMLS-approved mortgage education annually beginning the year they are licensed (unless PE was completed in the same year). This includes:
- 3 hours of federal law
- 2 hours of ethics
- 2 hours of non-traditional mortgage lending
- 1 hour of electives
- 2 hours of Oregon state-specific education
MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row.
Oregon Mortgage Licensing:
- Oregon Division of Financial Regulation
- Phone: 503-378-4140
- Email: NMLS.Licensing@state.or.us
- Website: dfcs.oregon.gov
NMLS Resources:
- Oregon License Description Page
- Professional Standards: Mortgage Education
- Professional Standards: Criminal Background Check
- Professional Standards: Credit Report
- Professional Standards: MLO Testing