The Oklahoma Department of Consumer Credit (OKDOCC) , has investigation and licensing duties over the mortgage laws and statutes of the state.  Mortgage Brokers are defined as those who hold themselves out as being able to make or assist a person in obtaining or applying to obtain a residential mortgage loan. Even working with one loan requires a person to be licensed.

All Oklahoma mortgage licenses are handled through the National Mortgage Licensing System. Prelicensing requirements include approved Courses that are 20 or more hours and contain 3 hours of Federal Law, 3 hours of Ethics, 2 hours of Non-traditional Mortgage Lending plus 12 or more hours of electives. This may be in addition to Oklahoma-required content.   A minimum of eight hours per year of continuing education is required nationally per year, per the SAFE act.

The licensing fee for NMLS for Loan Originators is $219. The licensing fee for a mortgage broker is $1000. Click on the links in the preceding sentences for more details about each license.

License is valid for one year, beginning January 1. Applicants also must provide proof of a Trust Account in a federally insured bank in Oklahoma. Recent financial statements (less than 30 days old) are also a requirement.

All Mortgage Brokers in Oklahoma must provide and maintain a principal place of business within the state.

The Oklahoma Association of Mortgage Brokers (OKAMB), is an affiliate of the National Association of Mortgage Brokers (NAMB) . Both organizations provide excellent resources pertaining to the real estate mortgage industry for those who desire to obtain a Mortgage Broker License in Oklahoma.

Oklahoma Mortgage Forms	Oklahoma Reciprocity States
Most mortgage forms can be obtained online. Ones listed below pertain to new salespersons and brokers. Oklahoma NMLS Requirement memo from DOCC	N/A (as of 2/23/2010)
Oklahoma Approved Mortgage Schools Prelicensing and Postlicensing Education
Community Colleges N/A	Private Schools Abacus Mortgage Training McKissock.com TheMortgageTrainingCenter.com Training Pro
Last Update:  2/22/2010 This list may not include all approved schools. Please visit the Department of Consumer Credit website for the latest list of approved schools.