~Attention Mortgage Lenders,Brokers & Originators~ 

NATIONWIDE MORTGAGE LICENSING SYSTEM (NMLS)

 With the passing of Senate Bill No. 1062, the Department of Consumer Credit will soon become part of the Nationwide Mortgage Licensing System (NMLS) beginning August 3rd, 2009. NMLS is a collaborative effort among state regulators to bring greater efficiency and accountability to the supervision of the mortgage industry.

 Any company or individual in the mortgage industry may be required to become a part of this system. The Department has sent out letters to all mortgage brokers, lenders and those now holding an exemption with the State of Oklahoma providing further details.  You can obtain more information regarding the licensing process in Oklahoma through the NMLS website.

The NMLS website (www.stateregulatoryregistry.org/nmls) provides step-by-step instructions on how to access the system, guides on how to complete the MU Forms, tutorials and much more.

The Department of Consumer Credit is no longer accepting applications in paper form and any entity or individual wishing to apply for a license will now need to submit the application through NMLS.

Please watch this page for further updates as we begin this process.

 NEW as of  10/27, 2009

Mortgage Broker

Letter to Licensee

Mortgage Loan Originators

Letter to Licensee

Exempt Mortgage Brokers 

Letter to Licensee

Supervised Lenders

Letter to Licensee 

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Deferred Deposit Lender NEWS!

Letter From the Administrator

 Please watch this page for further updates as we begin this process. 

Welcome!

The Oklahoma Commission on Consumer Credit is charged with the responsibility of administering the Uniform Consumer Credit Code, which includes provisions with respect to maximum charges, rate ceilings, disclosure requirements, enforcement rights, contract terms, advertising requirements and administration control.

The responsibility includes investigation and licensing of creditors designated as Supervised Lenders (finance companies), and regulation through filing of notice by non-lender extenders of credit. The Commission also has investigation and licensing duties under the Pawnshop Act, Precious Metal and Gem Dealers Act, Credit Services Organization Act, Health Spa Act, Rental-Purchase Lessor Act and the Mortgage Broker Licensure Act. The Commission conducts customer records exams of licensed Supervised Lenders, Pawnbrokers, Credit Service Organizations and Rental-Purchase Lessors.

Click here for A Letter from the Administrator