Participation in the Nationwide Mortgage Licensing System and Registry.

  1. Law
  2. Oklahoma Statutes
  3. Professions and Occupations
  4. Participation in the Nationwide Mortgage Licensing System and Registry.

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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 Mortgage Licensing System and Registry. In order to carry out this requirement, the Administrator is authorized to participate in the Nationwide Mortgage Licensing System and Registry. For this purpose, the Administrator, upon approval of the Commission, may establish requirements by rule as necessary and consistent with this 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 Mortgage Licensing System and Registry;

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


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