Or. Admin. R. 441-820-0030

Current through Register Vol. 63, No. 8, August 1, 2024

Section 441-820-0030 - Process to Challenge Information Entered into the National Mortgage Licensing System and Registry

(1) A person applying for a debt buyer license or a person licensed as a debt buyer has standing to challenge information regarding that person submitted to the NMLS and transmitted to the director for the approval or denial of a debt buyer license.

(2) Information subject to challenge by a person with standing under section (1) of this rule is limited to information that is alleged to be factually inaccurate or incomplete.

(3) A challenge of information must be made to the director in writing and must include any documentation that supports that the information subject to the challenge is factually inaccurate or incomplete. The director may limit the use of or reject information not relevant to the challenge.

(4) If the director determines that information is factually inaccurate or incomplete, the director may exclude the factually inaccurate or incomplete information in determining whether to issue or deny a debt buyer license. The director may also notify the NMLS of the factually inaccurate or incomplete information.

(5) Any person adversely affected or aggrieved by a decision may request the division reconsider its determination in accordance with OAR 137-004-0080.

Or. Admin. R. 441-820-0030

FSR 11-2017, temporary adopt filed 10/27/2017, effective 10/27/2017 through 04/24/2018; FSR 4-2018, adopt filed 04/23/2018, effective4/24/2018

Statutory/Other Authority: 2017 Or Laws ch 625 §§ 8, 13, 15

Statutes/Other Implemented: 2017 Or Laws ch 625 §§ 4 - 10