Oregon Administrative Code

813-010-0710 Change of Servicers (1) The servicing agreement may be terminated or amended as provided in the servicing agreement or the Program rules. (2) The Department may direct a change of Approved Servicers at any time consistent with the terms of the servicing agreement and…

813-010-0715 Loan Prepayments (1) It is the general policy of the Department not to accept prepayments. The Department may, however, permit a prepayment if, in its sole discretion, the Department determines that the prepayment is consistent with the best interests of the Departme…

813-010-0720 Disposal of Department-Owned Projects (1) The Department may transfer ownership of a Department-owned Project through sale, gift or other lawful manner to a Person or Persons whom the Department determines best meets the requirements of this Program. The Department s…

813-010-0740 Waiver The Department may waive or modify any requirements of OAR 813, division 010, unless such waiver or modification would violate applicable federal or state statutes or regulations. Statutory/Other Authority: ORS 456.515 - 456.720 Statutes/Other Implemented: ORS…

813-012-0010 Purpose and Objectives The rules of OAR chapter 813, division 12, are promulgated to carry out the provisions of ORS 456.515 through 456.720, as they pertain to the administration by the Housing and Community Services Department (Department) of the Multifamily Rental…

813-012-0020 Definitions (1) All capitalized terms used in OAR chapter 813, division 012, not defined below have the same meaning as defined in the Act and in OAR 813-005-0005. (2) As used in OAR chapter 813, division 012, unless the context indicates otherwise: (a) “Code” means …

813-012-0030 Eligible Rental Housing Projects (1) The Multifamily Rental Financing: Permanent Loan program manual dated July 13, 2026, is incorporated into this Division 12 by reference. (2) Through its Multifamily Rental Financing: Permanent Loan program manual, dated July 13, 2…

813-012-0040 Resident Eligibility and Occupancy Through its Multifamily Rental Financing: Permanent Loan program manual, dated July 13, 2026, the Department shall establish standards by which eligibility for project residents will be determined. Statutory/Other Authority: ORS 90.…

813-012-0050 Restrictions Associated with Tax-Exempt Financing Projects may be required to comply with the applicable restrictions of Section 103 and Sections 141 to 149 of the code. The Department expects to provide financing for projects under the Multifamily rental financing p…

813-012-0060 Borrower Reporting and Compliance Monitoring Through its risk share program compliance manual, dated 2014, the Department will establish standards and procedures for satisfying ongoing compliance requirements. Statutory/Other Authority: ORS 90.800 - 90.840, 90.630, 1…

813-012-0065 Loan Security The Department shall not disburse funds for a program loan until: (1) The loan is secured by a fully executed promissory note and first lien trust deed in such form as required by the Department, provided that a shared first lien with a trust deed secur…

813-012-0070 Insurance and Guarantees The borrower shall be responsible for obtaining any required HUD/FHA mortgage insurance or other payment guarantees satisfactory to the Department. Statutory/Other Authority: ORS 90.800 - 90.840, 90.630, 183.335, 456.515 - 456.723 & 458.210 -…

813-012-0080 Criteria for Selecting Projects The Department may select Project applications which, in the judgment of the Department best achieve the purposes of the Program and the Act. Preference will be given to Projects which: (1) Have the lowest rents possible in comparison …

813-012-0090 Processing Procedures The department shall outline the process for accepting and processing applications for program loans in the Multifamily Rental Financing: Permanent Loan program manual, dated July 13, 2026. Statutory/Other Authority: ORS 90.800 - 90.840, 90.630,…

813-012-0100 Fees, Charges and Loan Interest Rate (1) The Department may charge a nonrefundable commitment fee up to two percent of the committed Program Loan amount. The Eligible Borrower shall include the fee, if any, with the Eligible Borrower’s signed acceptance of the Commit…

813-012-0110 Program Loans (1) To be eligible to receive a program loan for financing, an eligible borrower shall comply with the terms contained in the firm commitment issued by the Department and those conditions of eligibility set forth in these rules. (2) Loan documents shall…

813-012-0115 Project Requirements (1) All developments must meet the following requirements: (a) Units financed by the Department must satisfy applicable IRS tax-exempt bond requirements, including either reserving at least 40 percent of units for households at or below 60 percen…

813-012-0120 Construction and Completion (1) During the construction of the Project, the Department may conduct random inspections for Borrower’s compliance with the plans and specifications previously approved by the Department. The Borrower’s supervising architect shall submit …

813-012-0130 Loan Servicing The Department may service program loans and program contributions internally or utilize a third party to provide loan servicing for any or all program loans or program contributions. When utilizing a third-party servicer, the Department will specify t…

813-012-0140 Change of Approved Servicers (1) The servicing agreement may be terminated or amended as provided in the servicing agreement or these rules. (2) The Department may direct a change of Approved Servicers at any time consistent with the terms of the servicing agreement …

813-012-0150 Transfer of Ownership (1) A Borrower or Eligible Borrower who has received a Program Loan or Commitment from the Department shall not transfer ownership, lease or otherwise encumber any property which serves or will serve as security for a Program Loan without prior …

813-012-0160 Loan Prepayments (1) It is the general policy of the Department not to accept prepayments. The Department may, however, permit a prepayment if, in its sole discretion, the Department determines that the prepayment is consistent with the best interests of the Departme…

813-012-0170 Disposal of Department-Owned Projects (1) The Department may transfer ownership of projects acquired through foreclosure or deed in lieu of foreclosure through sale, gift or other lawful manner to a person, persons, or entity whom the Department determines meets the …

813-012-0180 Waiver The Department may waive or modify any requirements of OAR 813, division 012, unless such waiver or modification would violate applicable federal or state statutes or regulations. Statutory/Other Authority: ORS 456.515 - 456.720 Statutes/Other Implemented: ORS…

813-015-0001 General Purpose OAR chapter 813, division 15, is promulgated to accomplish the general purpose of ORS 456.515 to 456.725 and 566.310 to 566.360, specifically 566.340, which authorizes the Department to make funds available to provide housing or related facilities for…

813-015-0006 Definitions All words and terms used in OAR chapter 813, division 15, are defined in ORS 456.515 to 456.725, 566.310 to 566.360 and as provided in 813-005-0005 and herein. As used in these rules, unless the context indicates otherwise: (1) “Eligible Project” means th…

813-015-0011 Eligibility for Funding Subject to the availability of Funds and limitations otherwise prescribed by law, the Department may provide funding in the form of ORR Loans to Eligible Borrowers for Eligible Projects. (1) The Department may make ORR Loans to Eligible Borrow…

813-015-0016 Availability and Source of Funds (1) The Department may provide funding, subject to the availability of Funds through a process which may include, but is not limited to, a first come-first reviewed process or a competitive review process. (2) The Oregon Rural Rehabil…

813-015-0021 Program Loan Terms (1) The term of an ORR Loan may be up to, but shall at no time exceed, ten (10) years without prior written approval by the Department. (2) Interest shall accrue at a per annum rate not exceeding one percent (1%) made to an Eligible Borrower who is…

813-015-0026 Loan Security Not withstanding any other provision contained in the Program rules, the Department will not disburse funds for an ORR Loan until: (1) The Eligible Borrower has provided adequate verification, satisfactory to the Department, which determines the value o…

813-015-0031 Application Requirements An Eligible Borrower shall submit, in form and in accordance with a process prescribed by the Department, information which includes but is not limited to: (1) Completion of the prescribed Program loan application accompanied by the applicati…

813-015-0035 Application Review and Processing Procedures (1) The Department will review Program loan applications upon their appropriate delivery subject to, but not limited to: (a) Applications being complete and consistent with Department and Program requirements, guidelines a…

813-015-0040 Transfer of Ownership (1) An Eligible Borrower who has received an ORR Loan shall not transfer ownership, lease, or otherwise encumber any property which serves as security for a ORR Loan without prior written consent from the Department. Consent will not be unreason…

813-015-0045 Equal Opportunity No person receiving Program Funding under OAR chapter 813, division 15, shall make any distinction or restriction or discriminate against any purchaser, occupant or lessee, or prospective purchaser, occupant or lessee, relating to the sale, rental, …

813-015-0050 Waiver The Department may waive or modify any requirements of OAR 813, division 015, unless such waiver or modification would violate applicable federal or state statures or regulations. Statutory/Other Authority: ORS 456.515 - 456.725 Statutes/Other Implemented: ORS…

813-020-0000 Purpose and Objectives The rules of OAR Chapter 813, Division 20 (this “Division”) establish and implement the Oregon Bond Residential Loan Program & Flex Lending FirstHome Product (the “Program”). Under the Program, Oregon Housing and Community Services (the “Depart…

813-020-0005 Program Definitions The following definitions and those in ORS Chapters 456 and 458 apply to OAR Chapter 822, unless the context indicates otherwise, or the term is otherwise defined in a subsequent division: (1) “Approved Lender” is a mortgage lender that is authori…

813-020-0020 Approved Lenders All Mortgage Loan(s) will be originated and closed using Approved Lenders who apply for and meet the requirements of a solicitation issued by the Department. Mortgage Loans delivered to the Department by Approved Lenders must also meet the requiremen…

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 regardin…

813-020-0045 Manual The Oregon Bond and Flex Lending FirstHome Guideline Manual with the requirements and standards therein, is incorporated into and adopted as part of this division of administrative rules, by reference. The program manual may be accessed online at the OHCS webs…

813-020-0055 Mortgage Loans (1) A mortgage loan under the Program, “Mortgage Loan”, is eligible for purchase by the Department if: (a) The borrower holds title to the property in fee simple or in another form of ownership acceptable to the Department; and (b) The Mortgage Loan me…

813-020-0060 Eligible Borrowers and Residences (1) A borrower is eligible for a mortgage loan under the Program if they meet the eligibility requirements set forth in the Oregon Bond and Flex Lending FirstHome Guideline Manual, and more specifically in the case of a Mortgage Loan…

813-020-0090 Mortgage Loan Servicing All Program Loans shall be serviced in accordance with the requirements of the Department’s Servicer to include: (1) Oregon Bond Residential Loan Program (a)The Servicer or Department’s Servicer, shall service a loan under the Oregon Bond Resi…

813-020-0100 Approved Mortgage Loan Servicers (1) A bank, savings bank or other financial institution that is authorized under the laws of a state or of the United States to engage in the business of servicing Mortgage Loans for residential housing may apply to become an approved…

813-020-0110 Servicing Manual The Oregon Bond Residential Loan Program Servicing Manual, is incorporated into and adopted as part of this division of administrative rules, by reference. The Servicing Manual be accessed online at the OHCS website. The Servicing Manual is dated Dec…

813-020-0120 Federal Eligibility Requirements (1) Section 143 of the Internal Revenue Code of 1986, as amended, requires the Department to meet the following requirements for each Mortgage Loan financed by tax-exempt bonds to preserve the federal tax exemption for such bond: (a) …

813-022-0000 Purpose and Objectives The rules of OAR chapter 813, Division 22 establish and implement the Flex Lending Program’s NextStep product. Under the program, the Oregon Housing and Community Services Department purchases mortgages in order to facilitate homeownership for …

813-022-0005 Program Definitions The following definitions and those in ORS Chapters 456 and 458 apply to OAR Chapter 822, unless the context indicates otherwise, or the term is otherwise defined in a subsequent division: (1) “Approved Lender” is a mortgage lender that is authori…

813-022-0020 Approved Lenders All Program Loan(s) will be originated and closed using Approved Lenders who apply for and meet the requirements of a solicitation issued by the Agency. Mortgage Loans delivered to the Department by Approved Lenders must also meet the requirements of…

813-022-0035 Reservation of Funds (1) An Approved Lender may reserve funds (also known as “locking a loan”). (2) Funds are reserved on a first-come-first-served loan by loan basis. (3) Details regarding reservation of funds is available in the OHCS Flex Lending Program's NextStep…