Does the state require a physical location within the state?
No.

Is there individual loan officer licensing?
Yes.

What are lenders, brokers and loan officers called?
Oregon uses the terms mortgage bankers, mortgage brokers and loan originators.

What is the cost of a license? Surety bond? Are there net worth requirements?

• Companies wishing to originate or broker Oregon residential mortgage loans must first secure a mortgage banker/broker license under the Oregon Mortgage Lender through the Division of Finance and Corporate Securities.
• To apply for a license a company should submit a completed application on a form approved by the director; a surety bond or letter of credit in the amount of $25,000 (plus an additional $5,000 for each branch up to a maximum of $50,000), financial statements dated not less than six months prior to application submission and an initial application fee in the amount of $825 and a fee of $165 for each branch office to be licensed, plus a $60 fee for each loan originator.
• The mortgage banker and broker license must be renewed on the first anniversary of its issuance and then every two years thereafter.
• Fees for renewal are currently $250 plus a fee of $50 for each branch office.
• All mortgage bankers and mortgage brokers must maintain with the regulator a list of loan originators employed by the banker or broker.
• Banks and brokers must notify the regulator within 30 days of the employment or termination of employment of a loan originator.