As used in this chapter:
(1)(a) “Broker or facilitator” means a person that conducts a business in which, for a fee or consideration, the person:
(A) Processes, receives or accepts for delivery to a lender an application for a loan, individually or in conjunction or cooperation with another person;
(B) Accepts and delivers to a lender all or most of the proceeds of a payment made in connection with a loan; or
(C) Assists in making a loan in a material capacity other than as a lender.
(b) “Broker or facilitator” does not include a mortgage broker or loan originator, as those terms are defined in ORS 59.840, or an employee of a licensee.
(2) “Consumer finance loan” means a loan or line of credit that is unsecured or secured by personal or real property and that has periodic payments and terms longer than 60 days.
(3) “Licensee” means a person licensed under this chapter. [Amended by 1985 c.762 §106; 1987 c.373 §66; 1993 c.744 §26; 2007 c.603 §1]
Section: 725.010 725.015 725.020 725.025 725.026 725.027 725.030 725.031 725.036 725.040 725.041 725.045 725.050 725.060 725.110 NextLast modified: August 7, 2008