Oregon passed a bill enacting the Mortgage Loan Servicer Practices Act (MLSPA). Under the bill, a person may not service a residential mortgage loan in Oregon without obtaining a license pursuant to the MLSPA, unless exempt. The bill also enacts provisions under the MLSPA with respect to exemptions, examinations, notifications, renewals, recordkeeping, fees, disclosures, annual account statements, borrower requests for information, borrower disputes, payment crediting, and third-party residential mortgage loan modification services. The bill went into effect January 1, 2018.
See Oregon State Legislature website for the full text of the Statue:
https://olis.leg.state.or.us/liz/2017R1/Downloads/MeasureDocument/SB98/Enrolled
