MHCO Article Topics
Answer. Oregon law requires that unless exempted, an individual must use a "mortgage loan originator" ("MLO") [e.g. mortgage bankers or mortgage brokers] license if he/she:
The rule carried out a 2015 Oregon Legislature directive through Senate Bill 705 that the Oregon Department of Environmental Quality enact rule changes by the end of 2015, requiring an owner of a residential building or a person proposing a demolition of a residential building to have an accredited inspector perform an asbestos survey before demolishing that building.
Answer: I assume you are referring to a sale where you carry back the security obligation (as opposed to the buyer paying cash or securing third party financing).[1] In this respect, you are correct, subject to several limitations.
Editor's Note: Earlier this year MHCO passed significant changes to Oregon's abandonment law in the Oregon Legislature.
New Oregon Law. No. 4 above has been stricken,2 and the following rules (found at ORS 90.675(14)(d) and (e) and (15) of HB 3016,) will apply. On January 1, 2016, if the landlord follows these new laws, the tax collector and Department of Revenue (collectively "tax collector") will be required to cancel unpaid taxes in the following additional circumstances:
Earlier this week the 2015 Oregon Legislative Session adjourned. This session was notable for two reasons - the first for passing MHCO's long awaited changes eliminating past due taxes on abandoned homes and the second for the tenacity of rent control to raise it's head in floor debates, a legislative work group proposal and amendments.
ORS 90.675 is the abandonment law that applies generally to homes located in manufactured housing communities. Today it contains 23 separate subsections, a behemoth in size compared to most statutes.
This morning the Oregon State Senate passed the 2015 Landlord-Tenant Coalition Bill on a vote of 29-0 with one Senator absent. The bill now moves on to Governor Kate Brown's desk for signature.
The last two weeks in the Oregon Legislature have been hectic. Yesterday was the deadline for bills in their originating chamber to move out of that chamber. In other words, House bills need to be out of House Committees and Senate bills had to be out of the Senate. This results in a large number of legislative proposals not moving forward which almost always is a good thing.&