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New mortgage lending application/renewal fee structure

Effective January 1, 2005, initial principal office fees will increase from $500 to $825 and initial branch office fees will increase from $100 to $165 per location.


The two-year principal office renewal fee will increase from $500 to $825 and the two-year branch office renewal fee will increase from $100 to $165. A fee of $247.50 is required for each branch added after the mortgage lender license is issued.


In addition to the above fees, firms must also pay an assessment fee of $60 for each reported loan originator to be employed by or associated with the firm to do business in this state. Applicants for an initial license are required to estimate the fee based on the number of loan originators they project will be associated with the firm in the first year. For renewals, the assessment fee will be based on the number of loan originators associated with the firm 60 days prior to the expiration date.


For more information, please call (503) 378-4140 or visit our Web site at http://dfcs.oregon.gov.