Bill Text: OR HB2083 | 2011 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relating to the confidentiality of documents obtained during a mortgage lending examination; and declaring an emergency.

Sponsorship: Unknown

Status: (Passed) 2011-06-16 - Chapter 350, (2011 Laws): Effective date June 16, 2011. [HB2083 Detail]

Download: Oregon-2011-HB2083-Introduced.html

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     76th OREGON LEGISLATIVE ASSEMBLY--2011 Regular Session

NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .

LC 556

                         House Bill 2083

Ordered printed by the Speaker pursuant to House Rule 12.00A (5).
  Presession filed (at the request of Governor John A. Kitzhaber
  for Department of Consumer and Business Services)

                             SUMMARY

The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.

  Exempts from disclosure mortgage loan documents Director of
Department of Consumer and Business Services obtains during
mortgage lending examination.
  Declares emergency, effective on passage.

                        A BILL FOR AN ACT
Relating to the confidentiality of documents obtained during a
  mortgage lending examination; amending ORS 86A.124; and
  declaring an emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1. ORS 86A.124, as amended by section 20, chapter 863,
Oregon Laws 2009, is amended to read:
  86A.124.  { + (1) + } The Director of the Department of
Consumer and Business Services has general supervision and
control over mortgage loan originators, mortgage bankers and
mortgage brokers
  { - residing or doing - }  { +  that reside or do + } business
in this state and
  { - engaged - }  { +  that engage + } in an activity that is
subject to the provisions of ORS 86A.095 to 86A.198.  { + The
director may examine at any time  + }mortgage bankers and
mortgage brokers and the records and activities connected with
mortgage bankers, mortgage brokers and mortgage loan originators
 { - are subject to examination by the director at any time - } .
The provisions of this section and of any other section of ORS
86A.095 to 86A.198 relating to examinations extend to a person
that is or should have been licensed as a mortgage loan
originator under ORS 86A.200 to 86A.239 or licensed as a mortgage
banker or mortgage broker, a person exempted by rule from the
definitions of mortgage banker, mortgage broker or mortgage loan
originator or a person whose license has expired or has been
withdrawn, canceled, suspended, conditioned or revoked.  The
director may collect from the person the actual expenses incurred
in the examination.
   { +  (2) A mortgage loan document the director obtains as part
of an examination under this section is exempt from disclosure or
production and is confidential for the purposes of ORS
705.137. + }

  SECTION 2.  { + This 2011 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2011 Act takes effect on its
passage. + }
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