Oregon Administrative Code

274-012-0001 Definitions for OAR 274-012-0001 through 274-012-0131 As used in Sections 0001 through 0131 of division 012, unless otherwise required by context: (1) “Department” or “ODVA” means the State of Oregon Department of Veterans' Affairs. (2) “Program” or “OVEFAP” means th…

274-012-0100 Purpose and Objective (1) It is the expressed policy of the Department to provide appropriate emergency financial assistance to veterans and their immediate families by means of the Department's Emergency Financial Assistance Program. (2) Within the funds established…

274-012-0105 Evidence Required to Establish Eligibility The following documentation shall be submitted to the Department when applying for program funds: (1) A copy of evidence of separation of military service under honorable conditions. (2) Proof of current Oregon residence. (3…

274-012-0110 Applications (1) Applications for assistance from the Program shall be made in such manner and detail, and on such forms, as the Department, in its reasonable discretion, shall determine. (2) Applications generally will be prioritized by the Department for considerat…

274-012-0115 Evidence of Need When an application is made for emergency financial assistance, the applicant shall provide the Department with the documentation required under Subsection 0105, together with statement(s) and other documentation satisfactory to the Department indica…

274-012-0120 Criteria for Determination of Emergency Financial Assistance (1) When determining to whom and in what amount Program funds will be made available to applicants, the Department may take into consideration various factors, including but not limited to: (a) The amount o…

274-012-0125 Misrepresentation of Emergency Financial Assistance The Department may require immediate reimbursement of funds, either in total or in part, if it is determined that applicant intentionally submitted invalid, incomplete, or fraudulent information when applying for fu…

274-012-0130 Review of Decisions Any person adversely affected by a decision of the Department with respect to program assistance may write a letter of complaint to the Department's Director. The Director, or the Director’s designee, will undertake such review of the complaint as…

274-012-0131 Waiver of Rules Subject to the limitations of the law, and at its sole discretion, the Department of Veterans' Affairs may waive all or part of these administrative rules. Statutory/Other Authority: ORS 406.030, 406.050, 406.130, 408.010 & 408.500 Statutes/Other Impl…

274-013-0000 Purpose and Objective (1) OAR chapter 274, division 013 is promulgated to carry out the provisions of 2008 Oregon Laws chapter 18 as enacted by the Oregon Legislative Assembly through House Bill 3626 §§19 and 20, effective February 11, 2008 (the “Act”). These rules, …

274-013-0010 Definitions For the purposes of OAR chapter 274, division 013, the following terms have the following meanings, unless the context clearly indicates otherwise: (1) “Act” means 2008 Oregon Laws, chapter 18 as enacted by the Oregon Legislative Assembly through House Bi…

274-013-0020 Eligibility (1) To be eligible for a Program loan, an Applicant must satisfy the definition of Applicant given in OAR 274-013-0010 and meet the following criteria: (a) The Applicant must own a Controlling Interest in a Small Business; (b) The Small Business must have…

274-013-0030 Application Procedure (1) The Department may, from time to time, identify forms to be completed by Applicants and require such additional information or performance with respect to any application as it deems appropriate. (a) The Department may require an Applicant t…

274-013-0040 Loan Conditions (1) Before providing a Program loan, the Department may require or perform such further credit checks and other due diligence as it deems appropriate. The Applicant and proposed Borrower must cooperate to the Department’s satisfaction with respect to …

274-013-0050 Loan Documents (1) Program loan documents may contain such provisions as the Department deems appropriate, including but not limited to terms with respect to Program loan disbursements, Collateral, repayment, remedies, late fees and interest, collection charges, atto…

274-013-0060 Administrative Review (1) Any Person adversely affected by a Department determination with respect to this Program, unless controlled by relevant loan documents, may request review of such determination by the Department's Director. The Director, or the Director’s de…

274-013-0070 Waiver of Rules The Department may waive or modify any requirements of OAR 274, division 013, in order to achieve substantial justice and the purposes of the Program unless such waiver or modification would violate applicable federal or state law. Statutory/Other Aut…

274-015-0010 Conservatorship Fees (1) As used in this rule: (a) “Department” means the Department of Veterans’ Affairs. (b) “Protected person” means a person for whom a protective order has been entered by a count that appoints the Department as the conservator. (c) "Ordinary ser…

274-015-0020 Representative Payee (1) The Director of Veterans' Affairs (DVA) may act as Representative Payee on behalf of a person deemed to be financially incapable at the request of any of the following: (a) The United States Department of Veterans’ Affairs (VA); (b) The Socia…

274-020-0200 Definitions for OAR 274-020-0200–274-020-0450 As used in OAR 274-020-0200 to 274-020-0450: (1) "Acquisition" means the purchase of a home or farm. (2) "Department" means the Oregon Department of Veterans’ Affairs established under ORS 406.005. (3) “Director” means th…

274-020-0241 Authority to Protect the Security At the discretion of the Director, funds can be disbursed to make repairs to correct a serious structural, safety, or sanitary deficiency discovered in a property that is security for a loan when it is determined such a disbursement …

274-020-0260 Who May Apply for Loan (1) A loan shall be made only to an individual veteran as defined in OAR 274-020-0200. (2) Joint loans or loans to a cooperative shall not be valid. Statutory/Other Authority: ORS 406 Statutes/Other Implemented: ORS 406.030, 407.115 & 407.125 H…

274-020-0265 Evidence Required to Establish Eligibility The applicant shall submit to the Director the following evidence to establish eligibility: (1) Evidence of separation such as a photostat of Discharge or a Certificate of Satisfactory Service and a photostat of Notice or Re…

274-020-0266 Eligibility to Apply Eligibility to apply for a loan under this division is subject to the eligibility criteria of Article X1-A of the Oregon Constitution and qualification under the Internal Revenue Code as a qualified veteran. The acceptance of an application and g…

274-020-0270 Forms and Signature (1) Application for a loan from the state shall be made to the Director on forms provided by the Director. (2) Applicants shall complete the appropriate department form to establish eligibility and shall sign their name as it appears on the discha…

274-020-0280 Number of Applications Permitted (1) Except as provided in section (2) and (3) of this rule, a veteran may have only one ODVA loan application pending at any time. (2) A veteran may make application for another loan if conditions exist which entitle the veteran to an…

274-020-0285 Additional Loans A veteran may receive this type of subsequent loan to replace an existing home unit on the existing ODVA security with a new home unit when the total funds do not exceed statutory limits. Statutory/Other Authority: ORS 406 Statutes/Other Implemented:…

274-020-0290 Second Loans Before a second loan may be granted: (1) The repayment shall have been satisfactory; and (2) The amount shall be limited to the balance of the original or restored loan right. Statutory/Other Authority: ORS 406 Statutes/Other Implemented: ORS 407.205 & 4…

274-020-0295 Modification of Application An application may be modified such as to the amount of the loan requested, legal description, amount of security or plans and specifications, but the modification must be requested in writing by the veteran and shall be subject to the app…

274-020-0300 Cancellation of Application (1) An applicant may cancel his application for a state veterans' loan at any time prior to receipt of the loan proceeds. (2) The Director may cancel any application if the applicant fails to comply with any of the conditions pertaining to…

274-020-0305 Filing Period An applicant may file to secure a veterans’ loan at any time after separation from the service, even though he has re-enlisted and is not separated at the time of application. Statutory/Other Authority: ORS 406 Statutes/Other Implemented: ORS 407.115, 4…

274-020-0310 Evidence of Acquisition An applicant shall be required to furnish any of the following items applicable: (1) A copy of the earnest money receipt or sales agreement, signed by all the parties if acquisition is by purchase. (2) A copy of the contract of sale signed by …

274-020-0315 Evidence of Construction An applicant shall submit complete plans, specifications, and cost estimates in applications for construction or improvements. Statutory/Other Authority: ORS 406 Statutes/Other Implemented: ORS 407.115, 407.225 & 407.265 History: DVA 22-1957,…

274-020-0322 Requirements for Farm Applicants (1) Must complete the Department’s farm income, experience, and expense form. (2) Must have capital or an equivalent line of credit to cover development costs and one year’s operating cost. (3) Must show, to the satisfaction of the Di…

274-020-0325 Security for the Loan (1) The home or farm offered as security shall be owned in fee simple by the veteran at the time the loan is closed. (2) The state shall have the first lien at the time of making the loan. (3) The security for the loan shall consist of real or p…

274-020-0330 Legal Description of Property Offered as Security (1) Property offered as security must have an adequate legal description from which the boundaries of the property may be located. (2) The Director may require a survey to ascertain the boundary lines and location of …

274-020-0335 Appraisal of Property (1) An appraisal shall be made to assist in establishing the loan value only after a complete application has been received. (2) On farms, the loan value allowable on the principal home unit portion of the property shall not exceed the amount ne…

274-020-0340 Terms of Loan (1) The loan value (net appraised value) shall be used as the basis for determining the maximum loan, subject to statutory limitations. Under the provisions of ORS 407.225(3), the maximum loan on a home which is real property may not exceed 100 percent …

274-020-0341 Interest Rates for Loans (1) The Director will prescribe interest rates for loans to be funded by the Department pursuant to this division. In prescribing interest rates, the Director will consider the following factors: (a) The current value of funds; (b) The solven…

274-020-0342 Interest Rate on Assumptions by Eligible Veterans (1) Effective February 3, 1982, a veteran eligible for a loan under ORS 407.075 to 407.595 and Article XI-A of the Oregon Constitution who assumes a loan, previously made by the Director, assumes at one of the followi…

274-020-0343 Interest Rates on Loans Secured by Property Transferred to Non-Veterans (1) Effective February 3, 1982, the interest rate on all loans secured by property transferred before February 3, 1982 will not change on the first transfer on or after February 3, 1982, but on a…

274-020-0344 Fixed Interest Rate (1) Subject to the provisions of this rule, effective June 1, 1989, borrowers with ODVA loans being charged 7.2 percent variable interest may convert the loan to a fixed interest rate. (2) Subject to the provisions of this rule, effective February…

274-020-0345 Approval of the Loan The approval of any loan shall be dependent upon the following: (1) The veteran applicant must meet current industry standards determined by the Department to be applicable to the proposed loan. Applicable industry standards may include, but are …

274-020-0348 Grounds for Refusing to Make a Loan The Director may refuse to make a loan to an applicant based on any of the following reasons: (1) Prior loan experience with an applicant was unsatisfactory, including, but not limited to, late payment or nonpayment on loan and imp…

274-020-0349 Loan Funding (1) Funding by Oregon Department of Veterans’ Affairs (ODVA) of any loan is subject to the discretion of the Director of Veterans’ Affairs. In determining whether or not to fund any loan, the director may consider factors, including, but not limited to t…

274-020-0350 Evidence of Title (1) The veteran shall furnish at his expense a mortgagee’s title policy for the amount of the loan, a title company lien search, or a certificate of title. (2) The title policy, or other reports, shall show that the state has a first lien except in …

274-020-0355 Escrow Closing of Loans (1) All loans made by the Director of Veterans' Affairs (except for protection of security loans) shall be closed by persons or firms licensed to engage in the escrow business under the Oregon Escrow Law (ORS 696.505 to 696.590), or an attorne…

274-020-0360 Disbursement of Loan Funds (1) When a veteran is purchasing or refinancing, the loan funds may be disbursed when the loan is closed. (2) When construction is involved and the property complies with the definition of a home, the loan funds may be disbursed after the l…

274-020-0375 Lost, Stolen, or Destroyed Warrants or Checks If loan proceeds in the form of a warrant or check issued by the Director are lost, stolen, or destroyed before negotiation, the payee may obtain payment by filing with the Director evidence that value has not been receiv…

274-020-0380 Transfer of Ownership (1) The director shall be notified in writing of any transfer of ownership or the right to possess property that is used as security for a loan with the Oregon Department of Veterans' Affairs (ODVA). (2) The interest rate on any outstanding obli…