OAR 813-020-0035. Locking Loans

(1) An Approved Lender may Lock Mortgage Loans (also known as “reserving funds”). A “Lock” reserves funds available for the purchase of Mortgage Loans under the Program. (2) Locks are on a first-come-first-served loan by loan basis. (3) Details regarding Locks are available in the Oregon Bond and Flex Lending FirstHome Guideline Manual located on the Department’s website.