Section 646A.760 – Civil action for damages; attorney fees and costs; limitation on commencement of action.
(1) As used in this section, “equity seller” has the meaning given that term in ORS 646A.725. (2) In addition to any action by the Attorney General under ORS 646.607 or any other cause of action, an equity seller may bring an action for damages incurred by the equity seller resulting from a violation of […]
Section 646A.765 – Penalties.
Violation of a provision of ORS 646A.702 to 646A.720 or 646A.725 to 646A.750 is a Class A misdemeanor. [2008 c.19 §18; 2011 c.597 §260]
Section 646A.770 – Definitions.
As used in ORS 646A.770 to 646A.787: (1) “Borrower” means an individual who enters into a finance agreement that is secured by a motor vehicle or who, in connection with purchasing or leasing a motor vehicle, incurs an obligation to pay money to a creditor under terms and conditions that are specified in a finance […]
Section 646A.700 – Short title.
ORS 646A.702 to 646A.720 and 646A.725 to 646A.750 may be cited as the Mortgage Rescue Fraud Protection Act. [2008 c.19 §1]
Section 646A.773 – Applicability of Insurance Code; statement of costs; exemptions.
(1)(a) A guaranteed asset protection waiver is not insurance and is not subject to the provisions of the Insurance Code. A person, other than an insurer, that sells a guaranteed asset protection waiver in compliance with ORS 646A.770 to 646A.787 does not become subject to the Insurance Code by reason of the sale. (b) Notwithstanding […]
Section 646A.702 – Definitions for ORS 646A.702 to 646A.720.
As used in ORS 646A.702 to 646A.720: (1) “Default” means having one or more homeowner obligations in arrears to an extent that a notice of default could properly be recorded against the residence. (2) “Family” means a spouse, domestic partner, parent, stepparent, grandparent, child, stepchild, grandchild, sibling, aunt, uncle, cousin or in-law. (3) “Foreclosure consultant,” […]
Section 646A.776 – Required disclosures; cancellation provisions; effect on motor vehicle purchaser’s credit.
A person may not sell a guaranteed asset protection waiver in connection with a sale of a motor vehicle that is used for personal, family or household purposes unless, at the time of the sale: (1) The person discloses, in writing and in plain and easily understandable language: (a) The name, address and other contact […]
Section 646A.705 – Persons that are not foreclosure consultants.
The following are not foreclosure consultants for purposes of ORS 646A.702 to 646A.720: (1) An individual licensed to practice law in this state, if performing services within an attorney-client relationship. (2) A person that holds or is owed an obligation that is secured by a lien on a residence in foreclosure or default, if performing […]
Section 646A.779 – Determination of amount of waiver; waivers that are required and waivers that are not required.
(1) A guaranteed asset protection waiver must determine the amount that a creditor waives under the terms of the guaranteed asset protection waiver in accordance with the following methods: (a) If primary motor vehicle insurance or third party liability insurance covers the amount of a total loss of the motor vehicle, the creditor shall waive […]
Section 646A.710 – Foreclosure consulting contract; requirements; void provisions.
(1) A written foreclosure consulting contract is required for any services that a foreclosure consultant provides to a homeowner. A foreclosure consultant shall provide a homeowner with a copy of the foreclosure consulting contract at least 24 hours before the homeowner signs the contract. The foreclosure consulting contract must: (a) Be written in a language […]