Mortgage Broker

STATUTES & RULES:
Title 59 O.S. §§ 2095 - 2095.26 - Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act
Title 160, Chapter 55 - Oklahoma Administrative Code

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.