Pursuant to ORS
470.060, an applicant will pay
the Department for costs to review, process and service a request for a loan.
Applicants will pay the following fees and charges:
(1) A non-refundable application fee as fixed
by ORS 470.060. "Application," as used
here, includes a request to assume or transfer or increase an existing loan but
does not include a request for an interim loan made in an application for a
permanent loan for a project. If the Department consults with an applicant on a
loan before an application is submitted the applicant must pay an application
fee after the first hour of consultation. The fee will be applied to the
application fee for an application that is submitted within thirty days of the
consultation. If an application is submitted more than thirty days after the
consultation, the applicant must pay a new application fee.
(2) A non-refundable underwriting fee of $500
or one-half of one percent of the loan request amount, whichever is greater,
but not to exceed $5,000.
loan fee of between one and four percent of the loan amount based upon the
Director's assessment of the risk profile of the project, payable at loan
(4) Charges for items
including, but not limited to credit reports, expert advice, legal fees,
construction inspections, disbursement fees, loan servicing fees and
appraisals, unless charges incurred also benefit another application, in which
case the charges will be divided equitably. Such charges will be estimated or
itemized for the applicant before they are incurred.
A fee of $500 for each request to release
or modify security. Additional charges may be made for items listed in OAR
(4). Such charges will be estimated or itemized for the applicant
before they are incurred.
interest rate set in a binding loan commitment may not be increased without the
applicant's consent except as provided in the loan commitment or the loan
documents. The interest rate for any project proposed by an eligible federal
agency must be set in accordance with ORS
Loan contracts may provide for rates to be adjusted upon issuance of the bonds
whose proceeds fund the loans.
The Department may offer a fee that combines the fees and charges in OAR
(1) through (3) and that is equal to or less than the sum of the
fees and charges in OAR 330-110-0055
(1) through (3). If offered, a combined fee
will apply to any applicant receiving similar loan terms.
Or. Admin. R.
DOE 6-1982, f. & ef.
4-21-82; DOE 2-1983, f. & ef. 5-16-83; DOE 4-1984, f. & ef. 3-6-84; DOE
2-1986, f. & ef. 3-4-86; DOE 4-1988, f. & cert. ef. 7-26-88; DOE
1-1994, f. & cert. ef. 4-1-94; DOE 2-1998, f. & cert. ef. 9-30-98; DOE
7-2004, f. & cert. ef. 12-20-04; DOE 1-2006, f. & cert. ef. 4-3-06; DOE
13-2012, f. & cert. ef. 12-20-12
Stat. Auth.: ORS 469 &
Stats. Implemented: ORS