How to get Oklahoma Mortgage Loan Originator Prelicensing Education PE and OK Continuing Education CE Requirements Met
1. Get your NMLS Number
If you have not done so already, it takes 1 -2 minutes to get your NMLS number. https://www.statemortgageregistry.com/Public/Login.aspx Click "Request an account" Click "Individual" We try to make all of these things easier, what questions may we answer? Use the chat feature on the bottom right corner of every web page to get answers now!
2. Get and complete your OK 20 Hour Prelicense Education PE Course Bundle including the best MLO test prep program available.
3. Pass the NMLS Nation Component Exam with Uniform State Test using our included test preparation program and add other states by getting and completing state PE courses
4. Apply for your Oklahoma MLO License through the NMLS, the licensing system will prompt you at this point for your next steps after opening your OK Mortgage Loan Originator application.
Questions about qualifications on any part of the process? Use the chat feature on the bottom right of this webpage or click here and get answers fast!
Oklahoma MLO Pre-Licensure Education Requirements
New state-licensed MLOs are required to complete 20 hours of NMLS approved education. The training contains 3 hours of federal law, three (3) hours of ethics (which shall include fraud, consumer protection, and fair lending issues), 2 hours of non-traditional mortgage lending, plus 11 hours of undefined education (referred to as electives). Number of hours is 3/3/2/11+ 1 Hour of OK Law = 20 Oklahoma has a requirement for 1 hour of instruction on state-specific law which may be satisfied by either taking an OK comprehensive course or a state-specific elective course.
What if I am already licensed in another state as an MLO, how do I get a OK MLO License? Take a OK 1 Hour PE Course Online, click here to go to the OK 1 Hour Course Page
Oklahoma Mortgage Loan Originator Continuing Education Requirements
Every state-licensed MLO (in any approved status) is required to complete at least 8 hours of NMLS approved education annually beginning the year they are licensed (unless PE was completed in the same year). Annual CE education must include 3 hours of Federal law, 2 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), and 2 hours of non-traditional mortgage lending, plus one additional hour of undefined education (referred to as an elective). Number of hours is 3/2/2/1 = 8 Click here to view Oklahoma MLO 8 Hour SAFE Comprehensive CE Course MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course as denoted by the course number two years in a row. MLO’s are advised not to retake pre-licensure education (PE) unless directed to by a State Regulator. PE education does not count towards meeting annual CE requirements.
| Am I required to take Continuing Education this year? | |||
| If I completed SAFE Act PE in 2009, to 2021 | and I was licensed in any year 2009-2021 | am I required to complete CE in 2022 | YES |
| If I completed SAFE Act PE in 2022 | and I was approved for an initial license in 2022 | am I required to complete CE in 2022 | No |
Deadline
The deadline to complete CE is December 31, 2022. However, MLOs in Oklahoma are prohibited from submitting an application to renew their license if they have not completed CE. Since it may take as long as seven (7) days for a course provider to report a course completion into NMLS, MLOs are strongly encouraged not to wait until the last minute to try to complete CE or they may be prevented from submitting for renewal on time.
Oklahoma Mortgage Regulator Contact Information
Contact Oklahoma Department of Consumer Credit licensing staff by phone at (405) 521-3653 or send your questions via email to licensing@okdocc.ok.gov for additional assistance.
For U.S. Postal Service & Overnight Delivery
Oklahoma Department of Consumer Credit
Attn: Licensing Department
629 N.E. 28th Street
Oklahoma City, OK 73105
OK Mortgage Regulator Oklahoma Department of Consumer Credit
How much does a OK MLO license cost? $581.25 itemized as follows special notes below
NMLS Initial Processing Fee: $30
OK DOCC License/Examination Fee/Recovery Fund Fee: $260.00
OK DOCC Application Fee: $200.00
Credit Report: $15
FBI Criminal Background Check: $36.25
Oklahoma MLO NMLS Checklist what are the requirements for a OK Mortgage Loan Originator License?
Education, testings, background check, credit check application submitted through the NMLS along with lciense fees: https://mortgage.nationwidelicensingsystem.org/slr/PublishedStateDocuments/OK-MLO-New-Application-Checklist.pdf
Who has to be licensed in OK as an MLO OK Processor?
Who Is Required to Have This License?
A Mortgage Loan Originator is an individual who for compensation or gain, or in the expectation of
compensation or gain, takes a residential mortgage loan application or offers or negotiates or modifies the
terms of a residential loan.
Oklahoma SAFE Act - 59 O.S. § 2095.2 (14) (a)
Oklahoma notes
- Oklahoma has special accomodations for person who meet any of the following Active Military Service Members/Spouses: Check the applicable boxes –
I am a member of the Armed Forces, My spouse is a member of the Armed Forces, My spouse is on active duty in this state, My spouse is a permanent resident of this state for the 6 months prior to assignment to active duty, My spouse is a permanent resident of this state during the period of active duty
If any of the above applies to you, click here to download information regarding the Post Military Service Occupation, Education and Credentialing Act to determine considerations you be entitled to and how to obtain these considerations. 59 O.S. § 4100 et seq.
- Low Income Individuals: if you are enrolled in – Temporary Assistance for Needy Families (TANF) Medicaid, Supplemental Nutrition Assistance Program (SNAP), My household adjusted gross income is below one hundred forty percent (140%) of the federal poverty line, Other (indicate public assistance program)
If any of the above applies to you, click here to download information regarding 59 O.S. § 4003 – Fee Waivers for License or Certification – Low-Income Individuals-Rules.