{"data":{"id":"us-ok/okla.-stat.-tit.-59-59-2095.5","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 59, § 59-2095.5","heading":"License and registration requirements - Independent","body":"contractors - Rules and procedures.\n\nA. 1. An entity or individual, unless specifically exempted\n\nfrom the Oklahoma Secure and Fair Enforcement for Mortgage Licensing\n\nAct, as provided in Section 2095.3 of this title, shall not engage\n\nin the business of a mortgage broker, mortgage lender or mortgage\n\nloan originator with respect to any dwelling located in this state\n\nwithout first obtaining and maintaining annually a license under the\n\nOklahoma Secure and Fair Enforcement for Mortgage Licensing Act.\n\nEach licensed mortgage broker, mortgage lender and mortgage loan\n\noriginator must register with and maintain a valid unique identifier\n\nissued by the Nationwide Multistate Licensing System and Registry.\n\n2. In order to facilitate an orderly transition to licensing\n\nand minimize disruption in the mortgage marketplace, the effective\n\ndate for licensing all entities and individuals as provided in this\n\nsubsection, including those currently licensed as mortgage brokers\n\nor mortgage loan originators, shall be July 31, 2010, or such later\n\ndate approved by the Secretary of the U.S. Department of Housing and\n\nUrban Development, pursuant to the authority granted under 12\n\nU.S.C., Section 5107.\n\nB. A loan processor or underwriter who is an independent\n\ncontractor may not engage in the activities of a loan processor or\n\nunderwriter unless such independent contractor loan processor or\n\nunderwriter obtains and maintains a license as required by the\n\nOklahoma Secure and Fair Enforcement for Mortgage Licensing Act.\n\nEach independent contractor loan processor or underwriter licensed\n\nas a mortgage broker or mortgage loan originator must have and\n\nmaintain a valid unique identifier issued by the Nationwide\n\nMultistate Licensing System and Registry.\n\nC. For the purposes of implementing an orderly and efficient\n\nlicensing process, the Administrator of Consumer Credit may\n\nestablish licensing rules, upon approval by the Commission on\n\nConsumer Credit, and the Administrator may establish interim\n\nprocedures for licensing and acceptance of applications. For\n\npreviously registered or licensed entities or individuals, the\n\nAdministrator may establish expedited review and licensing\n\nprocedures.","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":"88f064566196ee2f8bc6adfcde79a18eb5d4940d27c4958f19e1c727c7b6ad4f","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-59-59-2095.4","next":"us-ok/okla.-stat.-tit.-59-59-2095.6"},"notice":"GroundRules: Original legal text. Not legal advice."}