{"data":{"id":"us-ok/okla.-stat.-tit.-59-59-2095.23","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 59, § 59-2095.23","heading":"Authority to conduct investigations and examinations","body":"A. In addition to any authority allowed under the Oklahoma\n\nSecure and Fair Enforcement for Mortgage Licensing Act, the\n\nAdministrator of Consumer Credit shall have the authority to conduct\n\ninvestigations and examinations of the following:\n\n1. Criminal, civil and administrative history information,\n\nincluding nonconviction data;\n\n2. Personal history and experience information including\n\nindependent credit reports obtained from a consumer reporting agency\n\ndescribed in 15 U.S.C., Section 1681a(p);\n\n3. The financial condition and internal management policies and\n\nprocedures of any entity licensed or required to be licensed as a\n\nmortgage lender for purposes of determining that the entity is\n\noperating honestly, fairly and efficiently within the purposes of\n\nthe Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act;\n\nand\n\n4. Any other documents, information or evidence the\n\nAdministrator deems relevant to the inquiry or investigation\n\nregardless of the location, possession, control or custody of such\n\ndocuments, information or evidence.\n\nB. For the purposes of investigating violations or complaints\n\narising under the Oklahoma Secure and Fair Enforcement for Mortgage\n\nLicensing Act or for the purposes of examination, the Administrator\n\nmay review, investigate or examine any licensee or entity or\n\nindividual subject to the Oklahoma Secure and Fair Enforcement for\n\nMortgage Licensing Act, as often as necessary in order to carry out\n\nthe purposes of the Oklahoma Secure and Fair Enforcement for\n\nMortgage Licensing Act. The Administrator may direct, subpoena or\n\norder the attendance of and examine under oath all individuals whose\n\ntestimony may be required about the loans or the business or subject\n\nmatter of any such examination or investigation and may direct,\n\nsubpoena or order such individual to produce books, accounts,\n\nrecords, files and any other documents the Administrator deems\n\nrelevant to the inquiry. Any examination or investigation report\n\nand any information obtained during an examination or investigation\n\nshall not be subject to disclosure under the Oklahoma Open Records\n\nAct. However, any examination or investigation report and any\n\ninformation obtained during an examination or investigation shall be\n\nsubject to disclosure pursuant to a court order and may also be\n\ndisclosed in an individual proceeding and any order issued pursuant\n\nto the Oklahoma Secure and Fair Enforcement for Mortgage Licensing\n\nAct.\n\nC. Each licensee or entity or individual subject to the\n\nOklahoma Secure and Fair Enforcement for Mortgage Licensing Act\n\nshall make available to the Administrator, upon request, any books\n\nand records relating to the requirements of the Oklahoma Secure and\n\nFair Enforcement for Mortgage Licensing Act. The Administrator\n\nshall have access to such books and records and interview the\n\nofficers, principals, mortgage loan originators, employees,\n\nindependent contractors, agents and customers of the licensee,\n\nentities or individual subject to the Oklahoma Secure and Fair\n\nEnforcement for Mortgage Licensing Act concerning the requirements\n\nof the Oklahoma Secure and Fair Enforcement for Mortgage Licensing\n\nAct. Books and records shall be maintained for a period of time\n\nrequired by rule of the Administrator.\n\nD. Each licensee or entity or individual subject to the\n\nOklahoma Secure and Fair Enforcement for Mortgage Licensing Act\n\nshall make or compile reports or prepare other information as\n\ndirected by the Administrator in order to carry out the purposes of\n\nthis section including, but not limited to:\n\n1. Accounting compilations;\n\n2. Information lists and data concerning loan transactions in a\n\nformat prescribed by the Administrator; or\n\n3. Such other information deemed necessary to carry out the\n\npurposes of this section.\nhall make or compile reports or prepare other information as\n\ndirected by the Administrator in order to carry out the purposes of\n\nthis section including, but not limited to:\n\n1. Accounting compilations;\n\n2. Information lists and data concerning loan transactions in a\n\nformat prescribed by the Administrator; or\n\n3. Such other information deemed necessary to carry out the\n\npurposes of this section.\n\nE. In making any examination or investigation authorized by the\n\nOklahoma Secure and Fair Enforcement for Mortgage Licensing Act, the\n\nAdministrator may control access to any documents and records of the\n\nlicensee or entity or individual under examination or investigation.\n\nThe Administrator may take possession of the documents and records\n\nor place an entity or individual in exclusive charge of the\n\ndocuments and records in the place where they are usually kept.\n\nDuring the period of control, no entity or individual shall remove\n\nor attempt to remove any of the documents and records except\n\npursuant to a court order or with the consent of the Administrator.\n\nUnless the Administrator has reasonable grounds to believe the\n\ndocuments or records of the licensee have been, or are at risk of\n\nbeing, altered or destroyed for purposes of concealing a violation\n\nof the Oklahoma Secure and Fair Enforcement for Mortgage Licensing\n\nAct, the licensee or owner of the documents and records shall have\n\naccess to the documents or records as necessary to conduct its\n\nordinary business affairs.\n\nF. In order to carry out the purposes of this section, the\n\nAdministrator may:\n\n1. Retain attorneys, accountants, or other professionals and\n\nspecialists as examiners, auditors or investigators to conduct or\n\nassist in the conduct of examinations or investigations;\n\n2. Enter into agreements or relationships with other government\n\nofficials or regulatory associations in order to improve\n\nefficiencies and reduce regulatory burden by sharing resources,\n\nstandardized or uniform methods or procedures and documents,\n\nrecords, information or evidence obtained under this section;\n\n3. Use, hire, contract or employ public or privately available\n\nanalytical systems, methods or software to examine or investigate\n\nthe licensee, entity or individual subject to the Oklahoma Secure\n\nand Fair Enforcement for Mortgage Licensing Act;\n\n4. Accept and rely on examination or investigation reports made\n\nby other government officials, within or without this state;\n\n5. Accept audit reports made by an independent certified public\n\naccountant for the licensee or entity or individual subject to the\n\nOklahoma Secure and Fair Enforcement for Mortgage Licensing Act in\n\nthe course of that part of the examination covering the same general\n\nsubject matter as the audit and may incorporate the audit report in\n\nthe report of the examination, report of investigation or other\n\nwriting of the Administrator; or\n\n6. Participate in multistate mortgage examinations as scheduled\n\nby the Multistate Mortgage Committee established by the Conference\n\nof State Bank Supervisors and the American Association of\n\nResidential Mortgage Regulators.\n\nG. The authority of this section shall remain in effect,\n\nwhether such a licensee or entity or individual subject to the\n\nOklahoma Secure and Fair Enforcement for Mortgage Licensing Act acts\n\nor claims to act under any licensing or registration law of this\n\nstate or claims to act without such authority.\n\nH. No licensee or entity or individual subject to investigation\n\nor examination under this section may knowingly withhold, abstract,\n\nremove, mutilate, destroy or secrete any books, records, computer\n\nrecords or other information.","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":"7d69491f8cf11372e751cf1bc231a9a371b8d37ecd96e79a81aab29bb1dcfefd","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-59-59-2095.22","next":"us-ok/okla.-stat.-tit.-59-59-2095.24"},"notice":"GroundRules: Original legal text. Not legal advice."}