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During an Oklahoma state-law refresher, a compliance manager must resolve a question about licensing and NMLS authority. Which statement should control?

Correct Answer

B) Oklahoma Department of Consumer Credit regulates mortgage brokers, mortgage lenders, and mortgage loan originators.

Oklahoma Department of Consumer Credit regulates mortgage brokers, mortgage lenders, and mortgage loan originators.

Answer Options
A
Assume the Oklahoma requirement does not apply to this MLO sponsorship update.
B
Oklahoma Department of Consumer Credit regulates mortgage brokers, mortgage lenders, and mortgage loan originators.
C
Treat licensing and NMLS authority as satisfied by borrower consent alone.
D
Delay the Oklahoma requirement until after the loan closes or the renewal period ends.

Why This Is the Correct Answer

Oklahoma Department of Consumer Credit regulates mortgage brokers, mortgage lenders, and mortgage loan originators.

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