If you are a lender authorized to do business in Oregon, you must notify your borrowers of the new law’s protections.
Oregon House Bill 4204, signed into law on June 30th by Governor Kate Brown, requires all lenders doing business in Oregon to provide notice by mail of the new law’s protections to all of their borrowers by August 30th. The law requires mandatory payment deferral, prohibits default mitigation steps, and imposes a foreclosure moratorium, among other measures. The duration is defined as March 8th through September 30th, which may be extended by the Governor.
