Laws
State denies license, orders mortgage broker to cease and desist
October 20, 2008 Posted by Oregon Real Estate
Firm ordered to pay $70,000 in fines for violations of Oregon Mortgage Lender Law
Salem, OR - October 20, 2008 - (RealEstateRama) — In a continuing effort to increase enforcement in mortgage lending, the Oregon Department of Consumer and Business Services issued a cease-and-desist order and assessed $70,000 in fines against NLC of OR Inc., formerly […]
Real Estate Loan Officer Pleads Guilty to Mortgage Fraud Scheme
October 6, 2008 Posted by Oregon Real Estate
Portland , Ore. - October 2, 2008 - (RealEstateRama) — Marty Ray Folwick, 50, pled guilty today before United States District Court Judge Garr M. King to four counts of a 15-count federal indictment which was returned by a grand jury on June 12, 2008 . The guilty plea was entered as part of a […]
State takes enforcement action against four mortgage brokers
August 19, 2008 Posted by Oregon Real Estate
Cases involve unethical behavior, falsified loan documents, training requirements
Salem, OR - August 19, 2008 - (RealEstateRama) — In its continuing effort to strengthen enforcement in the mortgage lending industry, the Oregon Department of Consumer and Business Services issued cease-and-desist orders and fines against four mortgage companies for violating Oregon’s mortgage lending laws.
Realtor and Loan Broker Admit Participating in Scheme As Part of Pretrial Diversion Agreements
April 9, 2008 Posted by Oregon Real Estate
Portland, Ore. – 04/08/2008 - After considering over three hours of testimony and legal arguments, Judge Michael Mosman today sentenced Ryan Bonneau, 31, of Portland, to 30 months in prison for his role in a mortgage fraud scheme involving two residential real estate transactions in 2004. He will serve a period of five years supervised […]
Oregon receives grant money for foreclosure counseling and assistance
March 17, 2008 Posted by Oregon Real Estate
Salem, OR - March 17, 2008 - In response to Governor Kulongoski’s call to connect Oregonians with pre-foreclosure counseling, the Department of Consumer and Business Services (DCBS), Oregon Housing and Community Services (OHCS), and the Oregon Law Center announced today that Oregon has received more than $500,000 in grant money to provide counseling and legal […]
Smith Bill Makes Homeownership a Reality for American Families
December 22, 2007 Posted by Oregon Real Estate
Washington, D.C. - December 20th, 2007 - A new law authored by Oregon Senator Gordon Smith will allow homeownership to be more affordable for 187,000 Oregon families. The Mortgage Insurance Fairness Act guarantees mortgage insurance will remains tax-deductible for the vast majority of American homeowners through 2010. The President signed the bill into law today.