OAR 813-020-0005. Program Definitions

The following definitions and those in ORS Chapters 456 and 458 apply to OAR Chapter 822, unless the context indicates otherwise, or the term is otherwise defined in a subsequent division: (1) “Approved Lender” is a mortgage lender that is authorized by Oregon law to originate mortgage loans in the state and has executed an agreement to provide mortgage loans to the Department. (2) "Department's Servicer" means the Department’s Master Servicer who services Mortgage Backed Security based mortgage loans. (3) "Servicer" means a loan servicer that has an agreement with the Department to provide mortgage loan servicing for individual Department Mortgage Loans. (4) “Servicing” means the act of performing the duties of a Servicer with the department.