Oklahoma § 59-2095.13 - Participation in the Nationwide Mortgage Licensing

§ 59-2095.13. Participation in the Nationwide Mortgage Licensing

System and Registry.

In addition to any other duties imposed upon the Administrator

of Consumer Credit by law, the Administrator shall require mortgage

brokers, mortgage lenders and mortgage loan originators to be

licensed and registered through the Nationwide Multistate Licensing

System and Registry. In order to carry out this requirement, the

Administrator is authorized to participate in the Nationwide

Multistate Licensing System and Registry. For this purpose, the

Administrator, upon approval of the Commission on Consumer Credit,

may establish requirements by rule as necessary and consistent with

the Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act,

including but not limited to:

1. Background checks for:

a.

criminal history through fingerprint or other

databases,

b.

civil or administrative records,

c.

credit history, or

d.

any other information as deemed necessary by the

Nationwide Multistate Licensing System and Registry;

2. The payment of fees to apply for or renew licenses through

the Nationwide Multistate Licensing System and Registry;

3. The setting or resetting as necessary of renewal or

reporting dates; and

4. Requirements for amending or surrendering a license or any

other such activities as the Administrator deems necessary for

participation in the Nationwide Multistate Licensing System and

Registry.

Added by Laws 2009, c. 190, § 16, eff. July 1, 2009. Amended by

Laws 2013, c. 98, § 8, eff. Nov. 1, 2013; Laws 2024, c. 218, § 13,

eff. Nov. 1, 2024.