Oregon Mortgage License Requirements
Application Requirements to become licensed in Oregon:
| Description | Requirement |
|---|---|
| Temporary Authority to Operate Eligible | Yes |
| Application Fee | $0.00 |
| License Registration Fee | $80.00 |
| NMLS Processing Fee | $35.00 |
| Sponsorship Fee* | $0.00 |
| Credit Report Required | $15.00 |
| Criminal Background Check Required | $36.25 |
| Testing Required | Yes, passing score of 75% or higher |
| SAFE MLO Test Cost | $110.00 |
| Work Remote Allowed | No |
*Note: A sponsorship request must be submitted by your employer. OR will review and accept or reject the sponsorship request. Sponsoring company must provide bond between $50,000 and $200,000 as part of company’s licensing process.
Oregon NMLS Pre-Licensing Education Requirements:
New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This includes:
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3 hours of federal law
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3 hours of ethics
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2 hours of non-traditional mortgage lending
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8 hours of electives
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4 hours of Oregon state-specific education
PE is valid 3yrs from date ed was completed or last day held a MLO license/registration in any jurisdiction, whichever is later.
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:
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3 hours of federal law
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2 hours of ethics
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2 hours of non-traditional mortgage lending
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1 hour of electives
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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 Division of Financial Regulation Contact Info:
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Phone: (503) 947-7300
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Website: dfcs.oregon.gov
NMLS Resources:
Note: OnCourse Learning is approved with the Oregon Higher Education Coordinating Commission to ensure that residents of Oregon who attend private, proprietary postsecondary educational institutions are protected from fraud. Please see the Course Catalog tab and Oregon Refund Policy tab for more information.
