Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act; defining term. Effective date.
Becomes law without Governor's signature 05/14/2026
Summary
The bill sets up a uniform process for mortgage brokers, lenders, and loan originators in Oklahoma, requiring applications through the Nationwide Multistate Licensing System, fingerprinting, credit checks, and disclosure of owners. It establishes specific application and renewal fees, annual assessment calculations based on loan volume, and strict deadlines for renewal and display of licenses. The law aims to improve consumer protection and oversight of mortgage professionals.
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