Oregon § 716.572 Mortgage loan applications; conditions for granting loan; manner of holding mortgages and trust deeds

Oregon Statutes

§ 716.572 — Mortgage loan applications; conditions for granting loan; manner of holding mortgages and trust deeds

Oregon § 716.572

Vol.18

Title 53Financial Institutions

Ch. 716Savings Banks

This text of Oregon § 716.572 (Mortgage loan applications; conditions for granting loan; manner of holding mortgages and trust deeds) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 716.572 (2026).

Text

(1)An application for a mortgage loan or renewal or extension of a mortgage loan shall be written and show the date, name of the applicant, amount of loan requested and the security offered.

(2)A mortgage loan shall be granted only upon the written report of at least two members of the board of investment of the savings bank certifying on the application, according to their best judgment, the value of the property to be mortgaged and recommending the loan. The application and written report shall be filed and preserved with the savings bank’s records.

(3)Every mortgage and deed of trust and every assignment of a mortgage taken or held by a savings bank shall be held in its own name and immediately recorded in the office of the proper officer of the county in which the mortgaged property

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(1) An application for a mortgage loan or renewal or extension of a mortgage loan shall be written and show the date, name of the applicant, amount of loan requested and the security offered.
(2) A mortgage loan shall be granted only upon the written report of at least two members of the board of investment of the savings bank certifying on the application, according to their best judgment, the value of the property to be mortgaged and recommending the loan. The application and written report shall be filed and preserved with the savings bank’s records.
(3) Every mortgage and deed of trust and every assignment of a mortgage taken or held by a savings bank shall be held in its own name and immediately recorded in the office of the proper officer of the county in which the mortgaged property is located.