Oklahoma § 59-2068 - Disciplinary proceedings - Investigation - Hearing - Costs - Publication of names and

§ 59-2068. Disciplinary proceedings - Investigation - Hearing - Costs - Publication of names and

addresses. .............................................................................................................................................. 1435

Oklahoma Statutes - Title 59. Professions and Occupations

§59-2088 . Repealed by Laws 2009, c. 190, § 30, eff. July 1, 2009. ......................................................... 1437

The activities of mortgage brokers, mortgage lenders, and mortgage loan originators and the

origination, offering, servicing or modification of financing for residential real property have a

direct, valuable, and immediate impact upon Oklahoma's consumers, the Oklahoma economy, the

neighborhoods and communities of Oklahoma, and the housing and real estate industry.

Therefore, the Legislature finds that accessibility to mortgage credit is vital to the state's citizens.

The Legislature also finds that it is essential for the protection of the citizens of Oklahoma and the

stability of the Oklahoma economy that reasonable standards for licensing and regulation of the

business practices of mortgage brokers, mortgage lenders, and mortgage loan originators be

imposed. The Legislature further finds that the obligations of mortgage brokers, mortgage lenders,

and mortgage loan originators to consumers in connection with originating or making, modifying

or servicing residential mortgage loans are such as to warrant the regulation of the mortgage

lending and servicing process. The purpose of the Oklahoma Secure and Fair Enforcement for

Mortgage Licensing Act is to protect consumers seeking mortgage loans and to ensure that the

mortgage lending and servicing industry is operating without unfair, deceptive, and fraudulent

practices on the part of mortgage brokers, mortgage lenders, and mortgage loan originators.

Therefore, the Legislature establishes within the Oklahoma Secure and Fair Enforcement for

Mortgage Licensing Act: ......................................................................................................................... 1439