STATUTES & RULES: Title 59 O.S. §§ 2095 - 2095.26 - Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act
Oklahoma Administrative Code: Title 160, Chapter 55 (Click link and select "VIEW CODE", then Title 160 Department of Consumer Credit)
DESCRIPTION: A mortgage broker/lender is any entity who, for compensation or gain or in the expectation of compensation or gain takes a residential mortgage loan application or offers, negotiates or modifies the terms of a residential mortgage loan.
TIME FRAME TO ISSUE: The approval process allows this license to be issued within 60 days after we receive the complete application and all fees.
LICENSING PERIOD: This license is valid for one year, beginning on January 1st
LICENSING RENEWAL: This license may be renewed by submitting renewal documentation through NMLS before December 1st of each year.
RESPONSIBILITIES: All Mortgage Brokers are responsible for making sure that all loan originators employed are licensed.
Please visit the NMLS Resource Center to download the applicable checklists for this license. Once on the NMLS Resource center homepage you will select State Licensing then Oklahoma to download the checklists.
Oklahoma Association of Mortgage Brokers Website