| Every state has different rules and regulations | | | | Oregon somewhat, requiring additional disclosure, which |
| regarding who can do loan modifications and what | | | | implies, but does not explicitly state, that only mortgage |
| licensing, if any, is required. Many states don't have any | | | | brokers and attorneys can do loan modifications. If |
| restrictions whatsoever, though they'll probably come | | | | there are other statues covering loan mods within |
| up with something to regulate the industry in the next | | | | Oregon, I was unable to find them. |
| year or two. Other states have a lot of oversight, | | | | You may want to try calling the Oregon Real Estate |
| laws, and/or regulations. To confuse matters even | | | | Commission for more detailed and up-to-date info. The |
| more, nearly every state is in the process of creating, | | | | Commission for any state usually knows, and they're |
| changing, or adding to the requirements. It's a bit hard | | | | often the regulatory body too. Another resource is to |
| to keep track of, honestly. | | | | call the Oregon Mortgage Broker Commission, as the |
| It can be somewhat difficult to find the latest | | | | mortgage broker commission for any given state can |
| information for any given state. I've done a little | | | | also often be the regulatory body for loan mods. They |
| homework loan modification laws in Oregon, and here's | | | | should be able to provide accurate and detailed info |
| what I've found: | | | | regarding loan mod laws, oversight, and licensing as |
| The Oregon Mortgage Rescue Protection Act, passed | | | | well. |
| last year, restricts the loan modification process in | | | | |