Oregon is the Pacific Northwest’s Non-QM leader: Intel’s 20,000+ employee Hillsboro campus and Nike’s Beaverton world headquarters anchor the Silicon Forest bank statement market, Bend’s Mt. Bachelor resort economy drives the state’s premier STR DSCR market (with a 500-foot separation rule brokers must understand), Willamette Valley’s world-class Pinot Noir wine country generates the most distinctive seasonal bank statement profile in the series, and Oregon’s famously fragmented STR landscape — from Eugene’s open market to Portland’s owner-occupancy-only rule to the Oregon Coast’s jurisdiction-by-jurisdiction complexity — demands broker expertise at every submission.
Oregon is the Pacific Northwest’s most distinctive Non-QM state. The Silicon Forest — Intel’s 20,000+ employee Hillsboro campus, Nike’s Beaverton world headquarters (~13,000 Oregon employees), and Adidas’s Portland North American headquarters — generates the single largest concentration of tech RSU, ESPP, and corporate-to-consulting bank statement borrowers between San Francisco and Seattle. Portland and Eugene consistently rank in the top-30 US cities by self-employed percentage. Bend (Deschutes County) is Oregon’s premier STR DSCR market: year-round demand from Mt. Bachelor skiing and snowboarding, summer outdoor recreation on the Deschutes River and Cascade Lakes Highway, and Bend’s craft beer culture (most breweries per capita of any US city). Both Type I (owner-occupied) and Type II (non-owner-occupied investment) STR permits are available. Critical broker note: Bend enforces a 500-foot separation requirement between whole-home STR properties in residential and Mixed Use Riverfront zoning — confirm separation compliance before submitting any Bend STR DSCR file. Willamette Valley (Yamhill County: McMinnville, Dundee, Carlton, Newberg) is one of the world’s most prestigious Pinot Noir wine regions, alongside Burgundy, France. Winery and vineyard owners are one of Oregon’s most distinctive bank statement profiles: highly seasonal income (Q4 harvest-season tasting room + restaurant revenue peak; Q1-Q2 quiet) that makes 24-month bank statement essential. Oregon STR regulatory complexity: no two Oregon cities have the same STR rules. Portland prohibits investor whole-home STRs (owner-occupancy required 270 days/year). Bend permits investment STRs with 500-ft separation. Eugene is open with basic registration. The Oregon Coast ranges from Florence (no regulations as of Q1 2025) to Cannon Beach (one occupancy per 14 days) to Yachats (extensive waitlist; effectively closed to new licenses). Every Oregon STR DSCR submission requires pre-submission permit status verification specific to the property’s exact jurisdiction. BFF holds Oregon Mortgage Lending License #243082, issued by the Oregon Division of Financial Regulation under ORS 86A.095–86A.198. Key notes: clients’ trust account election required at application; volume-tiered bond based on Oregon-only originations ($50K new; up to $200K at $100M+ Oregon volume); bond tail active for 5 years after license ends.
The Clients’ Trust Account election, volume-tiered Oregon-only bond (5-year tail), Portland ASTR investor prohibition, Oregon rent control LTR cash flow modeling, Bend’s 500-foot STR separation requirement, and Intel/Nike RSU deposit pattern normalization are the operationally critical notes for BFF Oregon broker partners.
BFF holds Oregon Mortgage Lending License #243082, issued by the Oregon Division of Financial Regulation (DFR) under ORS 86A.095–86A.198. Three distinctive Oregon licensing features: (1) Clients’ Trust Account election: before license approval, the company must formally elect whether it will or will not accept refundable funds prior to close of escrow. Companies that will: must establish a Clients’ Trust Account at a bank with a physical branch in Oregon and upload the Notice of Clients’ Trust Account to NMLS. Companies that will not: must upload the Affidavit and Undertaking – No Clients’ Trust Account. This is not a formality — it must be completed before DFR will approve the license. Use Oregon-specific surety bond form 440-2775. (2) Volume-tiered bond (Oregon originations only): $50,000 for new licensees. At renewal, bond scales based on prior four quarters of Oregon residential mortgage originations only (not nationwide): $50K (under $10M OR vol), $75K ($10M–$25M), $100K ($25M–$50M), $150K ($50M–$100M), $200K ($100M+). DFR sends courtesy September email when bond amount is increasing. Bond filed electronically through NMLS. (3) 5-year bond tail: the surety bond must remain active for five years after the license ends — one of the longest post-license tail requirements in the BFF series. For licensing contacts: Lee Proctor (last names A–L): (503) 947-7894; Kenneth Power (M–Z): (503) 947-7857; general: (503) 378-4140. Verify at dfr.oregon.gov or NMLS Consumer Access.
Oregon’s two largest bank statement borrower ecosystems share the same multi-stream deposit structure that distinguishes Silicon Forest bank statement files from simple self-employed files. Intel RSU (Restricted Stock Unit) deposit pattern: Intel engineers and managers receive quarterly RSU vesting events (typically March, June, September, December). Each vesting event creates a one-time large deposit (Intel sells a portion to cover withholding; the net proceeds deposit to the employee’s brokerage or checking account). On top of base salary, Intel employees also participate in the ESPP (Employee Stock Purchase Plan) with semi-annual purchase periods (typically June and December) creating two additional semi-annual deposits. Annual performance bonus (paid typically in February). Sign-on bonus for new hires (one-time large deposit; exclude from qualifying income). Pre-submission questions for Intel borrowers: (1) What is their Intel job level (L5/L6/L7/L8)? Senior levels (L7 Principal Engineer, L8 Senior Principal) have RSU grants that can equal or exceed base salary in strong equity years. (2) Has the Intel equity vested or is it scheduled to vest? Unvested RSUs are not income until vested. (3) Is the borrower relocating from another Intel campus? Relocation allowances are non-recurring; exclude from income. Nike/Adidas bank statement: same RSU + ESPP + performance bonus structure. Former Nike-to-consulting alumni: confirm the consulting income is recurring (existing client retainer agreements), not just a recent transition (12-month minimum with documented clients). 24-month bank statement often cleaner than 12 for recent Nike alumni who had both W-2 Nike income and new consulting income in the window.
Bend 500-foot separation rule: Bend Municipal Code 3.6.500 requires a minimum 500-foot separation between whole-home STR properties in residential and Mixed Use Riverfront (MU-R, outside Old Mill District boundaries) zoning. This limits the density of new STR permits in established neighborhoods but supports premium pricing for existing licensed properties. Pre-submission: confirm the subject property can legally obtain or has obtained an STR permit (Type I or Type II) before submitting the DSCR file. The city’s planning department confirms permit eligibility. Note: properties within Mt. Bachelor Village, The Courtyards at Broken Top (Lots 1-8, 21-32), or Deschutes Landing are exempted from land use approval but still require an operating license. New STR operating licenses are not transferable to new property owners — if you’re underwriting a property sale, the buyer must apply for a new operating license within 60 days of closing. For existing licensed properties, the license does not transfer. Portland ASTR investor prohibition: Portland’s ASTR ordinance (effective for years; meaningfully enforced since 2024 with enhanced citation and fine framework) requires owner-occupancy for all STR permits. Owner must reside permanently on the property for ≥270 days/year; maximum 95 days absent while renting. Whole-home investor STR is prohibited. For any Portland property presented as a STR DSCR investment, confirm owner-occupancy intent and 270-day residency plan before submitting — if the borrower does not intend to live there as a primary residence, DSCR LTR (not STR) is the correct product. Portland LTR DSCR also requires rent control modeling (7% + Portland Metro CPI annual rent increase cap; Oregon statewide).
Winery and vineyard seasonal bank statement: Oregon winery income timing is highly predictable in pattern but extreme in amplitude between peak and trough months. Q4 (October, November, December) generates the largest deposits: harvest revenue payments, holiday wine club quarterly shipments (most wineries ship November or early December), Thanksgiving weekend tasting room peak (the Oregon wine industry’s highest-volume single weekend), and holiday gift wine sales. February and May are the other wine club shipment months for many wineries. Q1-Q2 (January through June) are the quiet period — many small Oregon wineries see 60-70% of their annual revenue in Q3-Q4. A 12-month bank statement window that ends before the Q4 peak will dramatically understate average income. Always use 24 months to capture two full harvest/holiday revenue cycles. Document the winery’s wine club membership size and annual revenue from available business financials to confirm the 24-month average. Oregon Coast STR jurisdiction verification workflow: (1) Identify the specific city or county jurisdiction (not just “Oregon Coast”). (2) Check the jurisdiction’s current permit status: for Florence (Lane County) — no regulations as of Q1 2025, but verify before submitting (proposed regulations forthcoming). For Manzanita (Tillamook County) — confirm R4/Commercial/LC zone availability; R2/R3 waitlisted. For Lincoln City/Newport/Lincoln County — verify current waitlist status with the county. For Cannon Beach (Clatsop County) — 1 occupancy per 14 days; typically not viable for investment DSCR STR. (3) Calculate the combined lodging tax for DSCR net income modeling (state TLT 1.5% + county/city tax; Clatsop County combined ~10.5%; other counties vary). (4) Confirm AirDNA data availability and reliability for the specific jurisdiction (established coastal markets like Manzanita have good AirDNA; very small communities may have limited data).
Oregon’s Non-QM geography is the most geographically and regulatorily diverse in the BFF West Coast portfolio: the Silicon Forest’s Intel/Nike/Adidas tech bank statement market (Portland metro), Bend’s year-round outdoor recreation STR economy (with Oregon’s most specific STR zoning rule), the Willamette Valley’s seasonal wine country bank statement (most distinctive agricultural income pattern in the series), Portland’s prohibited investor STR / rent control LTR DSCR market, the Oregon Coast’s highly variable jurisdiction-by-jurisdiction STR landscape, and Mt. Hood / Columbia Gorge’s emerging STR market.
Oregon’s Silicon Forest anchors one of the most distinctive tech bank statement markets on the West Coast between San Francisco and Seattle. Intel Hillsboro campus (Ronler Acres and Aloha campuses; Washington County; Oregon’s largest private employer): Intel engineers, product managers, and senior executives in Oregon receive RSU (Restricted Stock Unit) vesting on quarterly schedules, ESPP (Employee Stock Purchase Plan) participation with semi-annual purchase periods, annual performance bonuses, and sign-on bonuses — creating complex multi-stream deposit patterns where no two consecutive months look the same. For senior Intel engineers (Staff Engineer, Principal Engineer, Senior Principal Engineer) and managers, the RSU component can equal or exceed base salary in a strong equity year. Nike World Campus (Murray Blvd, Beaverton; ~13,000 Oregon employees): same RSU + ESPP + bonus pattern. The “Nike-to-consulting” alumni transition is one of Portland’s most common bank statement borrower origins: former Nike Senior Brand Managers, Global Product Line Managers, and Design Directors who leave to start independent brand strategy consulting firms serving outdoor, athletic, and lifestyle brands. Adidas North America HQ (Portland; ~5,000 employees): same pattern; “Adidas alumni” who start sportswear consulting or direct-to-consumer footwear companies. Portland and Eugene consistently rank in the top-30 US cities by self-employed percentage — the Silicon Forest’s large equity-compensated workforce and Oregon’s strong freelance economy combine to create the West Coast’s most active bank statement market outside of the Bay Area and LA.
Bend (population ~100,000; fastest-growing city in Oregon over the last two decades) has become Oregon’s premier outdoor recreation destination and the Pacific Northwest’s most active non-coastal STR DSCR market. Mt. Bachelor (9,065 ft; one of the largest ski areas in the Pacific Northwest; 4,300+ acres; year-round operations via Palmer snowfield in summer) drives winter demand. Deschutes River outdoor recreation (whitewater kayaking, fly fishing, Class III-IV rapids through the Old Mill District), the Cascade Lakes Highway, Smith Rock State Park (world-class sport climbing), and Bend’s festival calendar (Bend Film Festival, Pole Pedal Paddle, Mountain Sol) drive summer and shoulder-season demand. Bend has earned the title of US city with the most craft breweries per capita (Deschutes Brewery, 10 Barrel, Crux, Worthy, GoodLife, and 20+ others) — another tourism anchor. Critical Bend STR compliance note: Bend enforces a 500-foot separation requirement between whole-home STR properties in residential and Mixed Use Riverfront (outside Old Mill District boundaries) zoning. This limits new permits in established neighborhoods but supports premium pricing for compliant licensed properties. Both Type I (owner-occupied; eligible in more zones) and Type II (investment/non-owner-occupied; eligible in fewer zones) permits are available. STR operating licenses are not transferable to new property owners — new buyers must apply within 60 days of sale. Sunriver (Deschutes County; resort community ~15 miles south of Bend; Sunriver Owners Association): well-established, high-volume STR market; SROA governance generally STR-friendly within the resort zone. Bend + Sunriver lodging tax: ~12% combined (10.4% city + 1.5% state for Bend; Sunriver has separate county tax structure). AirDNA well-established and reliable for both Bend and Sunriver.
The Willamette Valley is one of the world’s most prestigious wine regions — often compared to Burgundy, France for Pinot Noir. The core wine country is centered in Yamhill County (Dundee Hills, Chehalem Mountain, Ribbon Ridge, Yamhill-Carlton, and McMinnville AVAs), with production spreading through Washington, Benton, Polk, and Lane Counties. Oregon wine exports are the state’s second-largest agricultural export. Winery owner bank statement: Oregon winery and vineyard owners have the most distinctively seasonal income pattern in the BFF series. Revenue timing: harvest occurs September–October; tasting room and winery events peak September–November; wine club quarterly shipments (February, May, August, November are typical); restaurant and retail sales distributed throughout year but heavier Q4. This means Q4 bank statements show large deposits (harvest revenue, holiday sales, wine club shipments); Q1-Q2 show dramatically lower deposits. A 12-month window will often capture exactly the wrong side of the seasonal cycle — always use 24 months for Oregon wine country bank statement to normalize the full annual cycle. Wine country STR: McMinnville, Newberg, Carlton, Dayton, and Dundee are active STR markets; Yamhill County unincorporated areas generally more permissive than Portland. McMinnville hosts the McMinnville International UFO Festival and has a vibrant downtown tourism economy supporting STR occupancy beyond just wine tourism. McMinnville also hosts the Evergreen Aviation and Space Museum (Spruce Goose; largest wooden aircraft ever built; IMAX theater).
Portland is Oregon’s largest city and the Pacific Northwest’s second-largest metro (after Seattle). Portland DSCR LTR works well; Portland DSCR investor STR does not. Portland ASTR prohibition for investors: Portland’s Accessory Short-Term Rental (ASTR) ordinance allows only owner-occupied STRs — the owner must reside permanently on the property for at least 270 days per year and can be absent for a maximum of 95 days while renting. Non-owner-occupied whole-home investor STRs are prohibited. Any Portland STR DSCR file must be flagged pre-submission and the client’s owner-occupancy situation confirmed. For investor-owned Portland properties, DSCR LTR is the correct product. Portland rent control (Oregon HB 2001, 2019): Oregon enacted statewide rent stabilization capping annual residential rent increases at 7% + Portland Metro CPI (combined ceiling typically ~10% in most years). This affects long-term DSCR cash flow projections in Portland — underwrite LTR DSCR at the rent-controlled ceiling, not at market-rate growth assumptions. Portland LTR DSCR markets: Pearl District, Division Street corridor, Mississippi Ave, NE Alberta Arts District, Hawthorne, Sellwood, Beaverton (Intel/Nike commuter), Hillsboro (Intel campus adjacent), Tigard, Lake Oswego (affluent; strong professional LTR demand). Intel Hillsboro creates particularly strong DSCR LTR demand in Beaverton and Hillsboro for properties within reasonable commute of the Ronler Acres and Aloha campuses. Portland multifamily (2-4 unit) DSCR: strong cap rates in outer SE and NE Portland neighborhoods.
Oregon’s coast (363 miles of public shoreline; all beaches public under the 1967 Oregon Beach Bill) is one of the most sought-after STR markets in the Pacific Northwest, but also the most regulatorily fragmented STR landscape in the BFF series — every municipality and county operates independently with no statewide license. As of Q1-Q2 2025, the accessibility spectrum by jurisdiction: Florence (Lane County): currently no STR regulations; most accessible Oregon Coast market for new investment STR DSCR (proposed regulations may be forthcoming — verify before submitting). Manzanita (Tillamook County): R4/Commercial/LC zones have available permits as of April 2025; R2/R3 waitlisted; permit transfers on existing licensed properties are possible. Newport (Lincoln County): generally not permitted except in specific tourist/commercially zoned areas; Lincoln County waitlist for residential zones. Lincoln City (Lincoln County): highly restrictive; exception for Olivia Beach and commercial/coastal tourist zones; Road’s End exception expired 2024; R1.5+ waitlist exceeds 24 months estimated. Cannon Beach (Clatsop County): limited to one occupancy per 14 days; essentially prohibitive for investment STR. Yachats (Lincoln County): extensive waitlist; effectively closed to new licenses. Waldport: permitted within city limits; restrictions on Bayshore area. State transient lodging tax 1.5% + local lodging taxes (Clatsop County: 10.5% combined). For every Oregon Coast STR DSCR submission, verify the specific property’s jurisdiction permit status before underwriting. Regulations change frequently. AirDNA accepted for established Oregon Coast STR markets.
The Mt. Hood and Columbia River Gorge corridor offers Oregon’s most accessible STR DSCR market for mountain and gorge properties outside Portland city limits. Mt. Hood National Forest corridor (Clackamas County; Government Camp, Rhododendron, Brightwood, Zigzag, Sandy): these unincorporated Clackamas County communities are outside Portland city limits and generally more permissive for STRs than the city; Timberline Lodge (only ski resort in North America with year-round skiing; Palmer Glacier provides summer skiing), Mt. Hood Meadows, and Skibowl drive winter demand. Sandy River corridor (Brightwood/Sandy River area at the base of Mt. Hood): active STR market with easy Portland day-trip access (~1 hour from Portland); riverfront cabin properties; AirDNA established. Hood River city (Hood River County): banned non-owner-occupied residential STRs (city ordinance upheld by Oregon Land Use Board of Appeals, April 2025 — legally permanent); commercial zone STRs permitted. Hood River County (unincorporated; rural communities: Odell, Parkdale, Hood River Valley orchards, vineyards): capped at 50 STR licenses in unincorporated areas; somewhat more permissive than city; active agricultural and orchard community; apple and pear orchards + wine grapes. Columbia River Gorge: Hood River is the world’s premier windsurfing and kiteboarding destination; weekend outdoor adventure tourism drives STR demand in Hood River commercial zone properties and Hood River County rural accommodations.
Every BFF program available to licensed Oregon mortgage brokers statewide — from Portland’s Silicon Forest to Bend’s outdoor recreation market to the Willamette Valley wine country to the Oregon Coast.
Intel Hillsboro (20K+ employees; RSU + ESPP bank stmt). Nike Beaverton (13K+). Adidas NW Portland (5K+). Columbia Sportswear, Precision Castparts (Fortune 500; Berkshire). LTR DSCR: Beaverton/Hillsboro (Intel corridor), Pearl, SE/NE Portland. Portland: no investor whole-home STR; rent control 7%+CPI cap. Fremont Bridge, St. Johns Bridge iconic Portland.
Bank Stmt · DSCR LTR · No Portland STRMt. Bachelor (9,065 ft; 4,300+ acres; year-round skiing). Deschutes River (whitewater). Smith Rock (world-class climbing). Most breweries per capita US city (Deschutes, 10 Barrel, Crux). Type I/II STR permits. 500-ft separation rule in residential zones. Sunriver resort STR-friendly (~15 mi south). Bend lodging tax ~12% combined. AirDNA reliable. Year-round demand.
DSCR STR · 500-ft verify · Year-roundWorld-class Pinot Noir (Yamhill County; Dundee Hills, Chehalem Mountain, Ribbon Ridge, McMinnville AVAs). McMinnville (UFO Festival, Evergreen Aviation Museum, Spruce Goose). Newberg, Carlton, Dayton. Winery/vineyard seasonal bank statement (24-month; Q4 peak). Wine country STR (Yamhill County relatively permissive). Salem (capital; Willamette University) for LTR DSCR.
Bank Stmt · Seasonal winery · Wine STRUniversity of Oregon (21,000+ students; Phil Knight + Nike connection; Oregon Ducks). Most permissive major Oregon city for STR (free registration; no investor ban; no cap). 4.5% Eugene TRT + 1.5% state TLT. UO DSCR LTR (Fairmount Hill, South University, Whiteaker). AirDNA: strong student demand. Oregon Coast STR: Florence (Lane County; no regulations Q1 2025) is most accessible coast market.
DSCR STR · Open registration · No banOregon State University (34,000+ students; strong STEM, agriculture, engineering programs; Oregon Sea Grant). AirDNA rental demand score 84/100; seasonality score 85/100. Corvallis: very high student DSCR LTR demand; Benton County multifamily cap rates strong. Emerging STR market for OSU game weekends and tourism. Willamette Valley adjacent. Hewlett Packard Enterprise Corvallis campus. Affordable multifamily vs. Portland.
DSCR LTR · OSU student housing · MultifamilyFlorence (Lane Co.; no STR regs Q1 2025; most accessible). Manzanita (Tillamook Co.; R4/Commercial permits available April 2025). Newport (Lincoln Co.; commercial zones). Cannon Beach (Clatsop Co.; 1 occupancy/14 days; prohibitive). Lincoln City (very restrictive). Yachats (extensive waitlist). State TLT 1.5% + local lodging taxes vary. Verify every jurisdiction before every submission.
DSCR STR · Verify jurisdiction · Variable rulesMt. Hood corridor (Clackamas County; Government Camp, Brightwood, Rhododendron, Sandy River; unincorporated; relatively permissive). Timberline Lodge (year-round skiing Palmer Glacier). Mt. Hood Meadows (summer/winter resort). Hood River city (commercial zones; residential ban upheld April 2025 LUBA). Hood River County rural (cap 50 licenses; orchards, vineyards). Columbia Gorge windsurfing/kiteboarding.
DSCR STR · Mt. Hood corridor · Year-round skiKingsley Field ANG (173rd Fighter Wing; F-15C/D training; ~2,500 personnel; Oregon’s only significant military installation; Klamath Falls very affordable $150K-$250K investment SFR; VA + BAH DSCR). Crater Lake National Park (only US national park in Oregon; 500,000+ visitors/year; Klamath County southern Oregon STR). Medford (Jackson County; largest southern Oregon city; Rogue Valley wine country; Lithia Motors Fortune 500 HQ).
VA · DSCR LTR · Crater Lake STROR Clients’ Trust Account election completed, volume-tiered Oregon-only bond with 5-year tail filed through NMLS, Intel/Nike RSU + ESPP deposit pattern normalization, Willamette Valley winery 24-month seasonal income methodology, Bend 500-foot separation pre-submission verification, Portland ASTR investor prohibition flag, Oregon rent control LTR DSCR cash flow modeling, and Oregon Coast jurisdiction-by-jurisdiction STR permit verification — BFF brings License #243082 and every program for the Pacific Northwest.
BFF holds Oregon Mortgage Lending License #243082. Clients' Trust Account election completed per DFR requirements. Volume-tiered bond ($50K new; scales to $200K on OR originations) filed electronically through NMLS using Oregon form 440-2775. Bond active for 5 years after license ends. Renewed annually by December 31.
BFF identifies Intel borrower job level before submission (RSU grant magnitude scales with level); confirms whether RSU is vested (qualifying income) or unvested (not income); treats ESPP semi-annual purchases as lump-sum non-recurring deposits; excludes sign-on bonuses; and structures 24-month bank statements to normalize the quarterly RSU vesting + annual performance bonus + base salary multi-stream deposit pattern.
BFF always uses 24 months for Oregon winery and vineyard bank statement to capture two full harvest/holiday revenue cycles. We document wine club membership size and annual revenue to confirm the average, flag Q4 revenue concentration in the file narrative, and confirm the winery is an operating business (not a hobby farm) through available business financials or wine license documentation.
Before accepting any Bend STR DSCR file, BFF advises the broker to confirm with Bend Planning Division (541-388-5580) that the subject property can obtain a Type I or Type II STR operating license under Bend Municipal Code 3.6.500 (500-ft separation) — and verifies the property is NOT within a prohibited zone. We also confirm the operating license situation (existing license is not transferable; new buyer must apply within 60 days of closing).
BFF flags any Portland STR submission pre-underwriting to confirm the borrower’s owner-occupancy plan and 270-day residency intent. For Portland LTR DSCR, BFF models rent increase assumptions at the Oregon rent control ceiling (7% + Portland Metro CPI) rather than market-rate growth assumptions, producing a conservative DSCR projection that survives underwriting scrutiny.
For every Oregon Coast STR DSCR file, BFF requires pre-submission confirmation of the specific city/county jurisdiction's current permit status, confirms the zone (R2/R3/R4/Commercial matters in Manzanita and many coast communities), calculates the combined local + state lodging tax rate for net income DSCR modeling, and confirms AirDNA data availability. We do not underwrite Oregon Coast STR on assumptions carried over from adjacent jurisdictions.
Oregon’s Clients’ Trust Account election and volume-tiered Oregon-only bond are the two most distinctive licensing requirements in the BFF West Coast portfolio. The license is straightforward once those two elements are handled correctly.
Your brokerage must hold an active Oregon Mortgage Lending License from the Oregon Division of Financial Regulation (DFR). Requirements: Experienced Person (QI) who is an owner or full-time W-2 employee with at least 3 years of mortgage lending experience within the past 5 years; financial statements prepared in accordance with GAAP showing positive net worth (unaudited acceptable; no dollar minimum; no audited statement requirement); Oregon Secretary of State registration for your primary company name and all DBAs; criminal records checks (no disqualifying convictions) for each individual to be employed as a loan originator. No in-state office required. Renewal December 31. Verify at dfr.oregon.gov.
Oregon requires a formal election regarding refundable client funds before the DFR will approve the license. Decision: will your company accept refundable funds prior to close of escrow? Yes: establish a Clients’ Trust Account at a bank with a physical branch in Oregon; upload the Notice of Clients’ Trust Account to NMLS. No: upload the Affidavit and Undertaking – No Clients’ Trust Account to NMLS. This is one of Oregon’s most distinctive company-level licensing requirements and is not found in any other state in the BFF series. Make this decision before beginning the application. Oregon DFR surety bond form: Form 440-2775.
Oregon’s surety bond scales based on Oregon-only residential mortgage origination volume (not nationwide): $50,000 for new licensees and companies with under $10M Oregon volume; $75,000 ($10M–$25M OR vol); $100,000 ($25M–$50M OR vol); $150,000 ($50M–$100M OR vol); $200,000 ($100M+ OR vol). Bond scaled annually at renewal based on prior four quarters of Oregon call reports (Q2+Q3+Q4 prior year + Q1 current year). DFR sends courtesy September email when the renewal bond amount is increasing. Bond filed electronically through NMLS (not mailed). Critically: the bond must remain active for 5 years after the license ends — a post-license tail requirement. Bond cannot be a letter of credit if the company employs loan originators.
All originating loan officers must hold active Oregon MLO licenses (approved sponsorship from employer required before originating). MLO requirements: 20 hours NMLS-approved pre-licensing education including 3 hrs federal laws, 3 hrs ethics, 2 hrs non-traditional mortgage lending, and 4 hours Oregon-specific content (one of the highest Oregon-specific content requirements in the West Coast portfolio); SAFE National Test + Oregon state component exam; annual CE 8 hours (3 hrs federal law updates, 2 hrs ethics, 2 hrs non-traditional mortgage lending). Oregon DFR sponsorship: DFR must accept employer’s sponsorship before the MLO can originate; this is not automatic on license approval.
Submit BFF’s Broker Application Package from the Resource Center. Oregon-specific file notes: for Intel/Nike/Adidas bank statement — identify job level (RSU grant magnitude scales with seniority), confirm RSU vesting schedule, treat ESPP as non-recurring lump-sum deposits, exclude sign-on bonuses, use 24 months to normalize all streams. For Willamette Valley winery bank statement — always 24 months; document wine club size and annual revenue; confirm Q4 revenue concentration. For Bend STR DSCR — verify 500-ft separation compliance before submitting; confirm license non-transferability for property purchases; verify Sunriver is in SROA zone. For Portland STR submissions — flag owner-occupancy status; if investor-owned, convert to DSCR LTR; model rent control ceiling for Portland LTR DSCR. For Oregon Coast STR — verify specific jurisdiction permit status, zone, lodging tax rate. E&O coverage required. Business purpose permitted.
A dedicated BFF Account Executive will reach out within 1–2 business days. You’ll receive portal access, rate sheets, and introductions to all OR-specific programs: Silicon Forest Intel/Nike/Adidas RSU + ESPP + consulting bank statement, Willamette Valley seasonal winery bank statement, 1099 for outdoor recreation and timber contractors, Bend STR DSCR (500-ft verification guidance), Mt. Hood corridor STR DSCR, Sunriver resort STR DSCR, Oregon Coast STR DSCR (jurisdiction-specific guidance), Portland LTR DSCR (rent control modeling), Eugene STR/LTR (open registration), Corvallis OSU multifamily DSCR, Klamath Falls Kingsley Field BAH DSCR + VA, Asset Utilization for retired Intel/Nike/Adidas executives, DSCR 5-8 unit for Eugene/Corvallis university markets, and FHA for Salem, Medford, and affordable Oregon markets.
Ready to close in Oregon?
Yes. BFF (FlexPoint, Inc.) holds Oregon Mortgage Lending License #243082, issued by the Oregon Division of Financial Regulation (DFR) under ORS 86A.095–86A.198. NMLS #243082. Key requirements: Experienced Person (QI) with 3 years mortgage experience in last 5; financial statements showing positive net worth (unaudited; GAAP); Clients’ Trust Account election (Notice or Affidavit filed in NMLS before approval); volume-tiered surety bond ($50K new; scales to $200K on Oregon originations); bond filed electronically through NMLS using form 440-2775; bond active 5 years after license ends; no in-state office required. Renewal December 31. Verify at NMLS Consumer Access.
Yes. Intel Hillsboro (Ronler Acres + Aloha campuses; Oregon’s largest employer; 20,000+ Oregon employees) and Nike World Campus (Beaverton; ~13,000 Oregon employees) are Oregon’s two largest bank statement borrower ecosystems. Both generate complex multi-stream deposit patterns: RSU quarterly vesting events (each creates a large one-time deposit on top of base salary), ESPP semi-annual purchase periods (two additional annual deposits), annual performance bonuses (typically February), and sign-on bonuses for new hires (non-recurring; exclude). For senior Intel engineers (Principal Engineer / Senior Principal) and Nike VP-level executives, RSU grants can equal or exceed base salary in strong equity years. Pre-submission: identify the borrower’s job level and confirm whether unvested RSUs are in the picture (unvested RSUs are not income until vested). Former Nike and Adidas alumni who start consulting firms are strong 24-month bank statement profiles — confirm the consulting income is recurring (existing client agreements) rather than just recent. BFF Bank Statement: up to $4M at 90% LTV, minimum 620 FICO.
Yes. Bend (Deschutes County) is Oregon’s premier STR DSCR investment market, with year-round demand from Mt. Bachelor skiing, Deschutes River outdoor recreation, and Bend’s national reputation as an outdoor recreation destination. The 500-foot rule: Bend Municipal Code 3.6.500 requires a minimum 500-foot separation between whole-home STR properties in residential and Mixed Use Riverfront (MU-R, outside Old Mill District boundaries) zoning. This limits new permits in established neighborhoods. Both Type I (owner-occupied) and Type II (non-owner-occupied investment) permits are available. Pre-submission: confirm separation compliance with Bend Planning Division (541-388-5580). Note that new STR operating licenses are not transferable to new property owners — if buying a property, the new owner must apply within 60 days of closing. Sunriver (resort community ~15 miles south; generally STR-friendly under SROA governance) is also an active BFF DSCR STR market. Bend combined lodging tax: ~12%. AirDNA accepted. DSCR: up to $3.5M at 85% LTV.
No. Portland’s Accessory Short-Term Rental (ASTR) ordinance prohibits investor-owned whole-home STRs. Portland only allows STRs where the owner permanently occupies the property (at least 270 days per year) and uses it as a primary residence; the owner can only be absent for a maximum of 95 days while renting to overnight guests. For investor-owned Portland properties, DSCR LTR (long-term rental) is the appropriate product. Portland LTR DSCR files also require Oregon rent control modeling: Oregon’s statewide rent stabilization law caps annual residential rent increases at 7% + Portland Metro CPI (combined ceiling typically ~10% most years). Model Portland LTR DSCR cash flow projections using the rent-controlled ceiling, not unconstrained market-rate rent growth assumptions. Bend, Sunriver, Mt. Hood corridor, Willamette Valley wine country, and Oregon Coast (jurisdiction-specific) are Oregon’s investor STR DSCR markets.
Oregon requires every mortgage lender license applicant to make a formal election before DFR approves the license. If your company will accept refundable funds prior to close of escrow (application fees, appraisals, good faith deposits that could be refunded): (1) establish a Clients’ Trust Account at a bank with a physical branch in Oregon; (2) upload a completed Notice of Clients’ Trust Account to NMLS. If your company will NOT accept refundable funds prior to close of escrow: upload a completed Affidavit and Undertaking – No Clients’ Trust Account to NMLS. This election must be documented in NMLS before DFR will approve the license. It is one of Oregon’s most distinctive company-level licensing requirements and is not present in any other state in the BFF series. Plan for this in your application timeline. Oregon surety bond form: Form 440-2775.
Apply through BFF’s Become a Broker Partner page. Requirements: active Oregon Mortgage Lending License from DFR (ORS 86A.095–86A.198); Experienced Person with 3 years mortgage experience in last 5; financial statements showing positive net worth (unaudited; GAAP); Clients’ Trust Account election filed in NMLS (Notice or Affidavit); volume-tiered surety bond ($50K new; scales to $200K on OR originations) filed through NMLS; 5-year bond tail after license ends; Oregon Secretary of State registration for all DBAs; Oregon MLO licenses for all originators (20-hr pre-licensing; 4 hrs OR content; OR state exam; 8-hr annual CE); E&O insurance; completed BFF Broker Application Package. Approval typically 1–2 business days.
Partner with BFF for fast, reliable wholesale lending in Oregon. Submit a scenario or become an approved broker today.
