Answer: Per the Oregon Department of Community and Business Services, “…there is definitely no license for that.”
Comment: The above question supplements the FAQs posted by MHCO regarding the SAFE Act earlier this month. According to the Oregon Department of Community and Business Services (“DCBS”), the Act applies to manufactured community owners who sell homes acquired following abandonment or pre-abandonment. Accordingly, an owner who provides financing by carrying back an installment contract, will have to either become licensed as a Mortgage Loan Originator (“MLO”) or hire - as an employee or independent contractor - a third party MLO to perform the credit component of the transaction.
