This Course Includes:
- OIL – 1 Hour Online OK SAFE PE – Oklahoma State Law (5651)
This 1 hour course covers Oklahoma law and regulations pertaining to mortgage lending, loan servicing and loan brokering, in addition to rules regarding high-cost home loans. The following laws will be covered in the course:
The course is divided into five sections covering the Oklahoma Mortgage Lending Law, Oklahoma Secure and Fair endorsement for Mortgage Licensing Act (SAFE Act) and Oregon Uniform Consumer Credit Code:
Section 1: Overview and Definitions. Outlines the purpose and authority of each law and sets forth definitions used throughout Oklahoma laws.
Section 2: License Maintenance. Covers license and registration requirements for mortgage lenders/independent contractors Rules and Procedures and exemptions to licensing.
Section 3: Acts and Practices. Covers permissible and prohibited acts and practices with respect to lending and broker activity and usury statutes (i.e. permissible and prohibited fees) and guidelines for Clients’ Trust Accounts.
Section 4: Compliance and Consumer Protection. Covers requirements for disclosures, written agreements, and advertising guideline adherence for the protection of consumers.
Section 5: Disciplinary Action. Covers notifications and investigations actions, suspension / revocation of licenses, penalties and fines, and civil and criminal liabilities.
Upon successful completion of this course you will have a strong understanding of the laws and regulations specific to mortgage loan originators and lenders in the state of Oklahoma.