Arrangements where security protection provisions not required; information to borrower.

  1. Law
  2. Oregon Revised Statutes
  3. Business Organizations, Commercial Code
  4. Mortgages; Trust Deeds
  5. Arrangements where security protection provisions not required; information to borrower.

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(1) That the arrangement is not a condition to the real estate loan agreement;

(2) If it is an escrow account, whether or not the lender will pay interest and if interest is to be paid, the rate of interest; and

(3) Whether or not the borrower must pay the lender a charge for the service. If a charge is agreed to, the charge shall not exceed the amount of interest income earned under subsection (2) of this section. [1975 c.337 §10]


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