(a) Comply with all applicable state and federal laws;

(b) Provide the borrower with a summary of the material terms of any agreement under which the licensee provides services related to a modification of the borrower’s residential mortgage loan; and

(c) Inform the borrower immediately in writing if:

(A) The owner of the residential mortgage loan needs additional information to process or consider the request; or

(B) The owner of the residential mortgage loan will not consider a modification of the terms.

(2) A person that performs a residential mortgage loan modification service for compensation or gain may not:

(a) Charge a fee before providing the service for which the person charges the fee;

(b) Charge a fee that is not reasonable or that exceeds the usual and customary fees for the service the person provides; or

(c) Require or encourage a borrower, as a condition of modifying the terms of a residential mortgage loan or providing a service related to modifying the terms of a residential mortgage loan, to:

(A) Waive the borrower’s:

(i) Legal defenses, available counterclaims or other legal rights against the person;

(ii) Right to contest a foreclosure; or

(iii) Right to receive notice before a foreclosure proceeding begins;

(B) Pay a fee, charge or assessment for which the residential mortgage loan agreement, a servicing agreement or a related agreement does not provide; or

(C) Cease communications with the person, the trustee or beneficiary in a trust deed, the owner or a servicer of the borrower’s residential mortgage loan or any other person with which the borrower has the right or duty to communicate concerning the residential mortgage loan.

(3) A person that does not comply with subsection (1) of this section or that engages in conduct that is prohibited under subsection (2)(a) or (b) of this section violates ORS 86A.154. [2017 c.636 §14]