{"data":{"id":"us-ok/okla.-stat.-tit.-59-59-2095.18","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 59, § 59-2095.18","heading":"Specific violations","body":"It is a violation of the Oklahoma Secure and Fair Enforcement\n\nfor Mortgage Licensing Act for an entity or individual subject to\n\nthe Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act\n\nto:\n\n1. Directly or indirectly employ any scheme, device, or\n\nartifice to defraud or mislead borrowers or lenders or to defraud\n\nany entity or individual;\n\n2. Engage in any unfair or deceptive practice toward any entity\n\nor individual;\n\n3. Obtain property by fraud or misrepresentation;\n\n4. Solicit or enter into a contract with a borrower that\n\nprovides in substance that the entity or individual subject to the\n\nOklahoma Secure and Fair Enforcement for Mortgage Licensing Act may\n\nearn a fee or commission through “best efforts” to obtain or modify\n\na loan even though a loan is not actually obtained or modified for\n\nthe borrower;\n\n5. Solicit, advertise or enter into a contract for specific\n\ninterest rates, points or other financing terms unless the terms are\n\nactually available at the time of soliciting, advertising or\n\ncontracting;\n\n6. Conduct any business covered by the Oklahoma Secure and Fair\n\nEnforcement for Mortgage Licensing Act without holding a valid\n\nlicense as required under the Oklahoma Secure and Fair Enforcement\n\nfor Mortgage Licensing Act or assist or aide and abet any entity or\n\nindividual in the conduct of business under the Oklahoma Secure and\n\nFair Enforcement for Mortgage Licensing Act without a valid license\n\nas required under the Oklahoma Secure and Fair Enforcement for\n\nMortgage Licensing Act;\n\n7. Fail to make disclosures as required by the Oklahoma Secure\n\nand Fair Enforcement for Mortgage Licensing Act and any other\n\napplicable state or federal law including regulations thereunder;\n\n8. Fail to comply with the Oklahoma Secure and Fair Enforcement\n\nfor Mortgage Licensing Act or rules promulgated under the Oklahoma\n\nSecure and Fair Enforcement for Mortgage Licensing Act or fail to\n\ncomply with any other state or federal law, including any rules\n\nthereunder, applicable to any business authorized or conducted under\n\nthe Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act;\n\n9. Make, in any manner, any false or deceptive statement or\n\nrepresentation, including, with regard to the rates, points, or\n\nother financing terms or conditions for a residential mortgage loan\n\nor engage in bait and switch advertising;\n\n10. Negligently make any false statement or knowingly and\n\nwillfully make any omission of material fact in connection with any\n\ninformation or reports filed with a governmental agency or the\n\nNationwide Multistate Licensing System and Registry or in connection\n\nwith any investigation conducted by the Administrator of Consumer\n\nCredit or another governmental agency;\n\n11. Make any payment, threat or promise, directly or\n\nindirectly, to any entity or individual for the purposes of\n\ninfluencing the independent judgment of the entity or individual in\n\nconnection with a residential mortgage loan or make any payment,\n\nthreat or promise, directly or indirectly, to any appraiser of a\n\nproperty, for the purposes of influencing the independent judgment\n\nof the appraiser with respect to the value of the property;\n\n12. Collect, charge, attempt to collect or charge or use or\n\npropose any agreement purporting to collect or charge any fee\n\nprohibited by the Oklahoma Secure and Fair Enforcement for Mortgage\n\nLicensing Act;\n\n13. Cause or require a borrower to obtain property insurance\n\ncoverage in an amount that exceeds the replacement cost of the\n\nimprovements as established by the property insurer; or\n\n14. Fail to truthfully account for monies belonging to a party\n\nto a residential mortgage loan transaction.","path":["OK Code","Title 59"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os59.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"5bf7318fe5b3452866ec10f50f74cbe8e59774c159477a6e02fc5a262d9c62b3","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-59-59-2095.17","next":"us-ok/okla.-stat.-tit.-59-59-2095.19"},"notice":"GroundRules: Original legal text. Not legal advice."}