§ 2095.7. Findings required for issuance of a mortgage loan originator license
Oklahoma Statutes AnnotatedTitle 59. Professions and OccupationsEffective: November 1, 2019
Effective: November 1, 2019
59 Okl.St.Ann. § 2095.7
§ 2095.7. Findings required for issuance of a mortgage loan originator license
Provided, that any pardon of a conviction shall not be a conviction for purposes of this paragraph;
3. The applicant has demonstrated financial responsibility and general fitness such as to command the confidence of the community and to warrant a determination that the mortgage loan originator will operate honestly, fairly and efficiently within the purposes of the Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act. For purposes of this paragraph, an individual has shown that he or she is not financially responsible when he or she has shown a disregard in the management of his or her own financial condition. A determination that an individual has not shown financial responsibility may include, but not be limited to:
7. The applicant is sponsored by a licensed mortgage broker or mortgage lender. The Administrator of Consumer Credit may authorize an entity exempt from the requirements of this act to sponsor an applicant that is an independent contractor of the exempt entity. The Administrator of Consumer Credit may promulgate administrative rules, subject to approval of the Commission on Consumer Credit, to implement sponsorship procedures and requirements.
Credits
Laws 2009, c. 190, § 10, eff. July 1, 2009; Laws 2010, c. 415, § 28, eff. July 1, 2010; Laws 2013, c. 98, § 5, eff. Nov. 1, 2013; Laws 2019, c. 363, § 69, eff. Nov. 1, 2019.
59 Okl. St. Ann. § 2095.7, OK ST T. 59 § 2095.7
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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