OklahomaOklahoma law defines originated loans and caps some license fees
Starting November 1, 2026, Oklahoma’s mortgage licensing law defines which loans count as originated and sets limits on brokers’ and lenders’ annual assessments.
What it does
For this section of Oklahoma’s mortgage licensing law, a loan counts as originated when it closes in a broker’s or lender’s name; brokered loans are excluded.
For broker and lender licenses, the law sets a $1,000 minimum annual assessment. The cap on the part based on loans serviced in Oklahoma is $35,000 starting November 1, 2026, and $40,000 starting November 1, 2027.
Argument forA clear definition of originated loans could help brokers and lenders calculate fees consistently by excluding loans they broker for others.
Argument againstThe higher cap could let the serviced-loan part of some brokers’ and lenders’ annual fees rise, though the text does not require fees to reach the cap.
More detail
The law defines “originated” loans as loans closed in a broker’s or lender’s name. The definition applies for this section of Oklahoma’s mortgage licensing law and excludes brokered loans. The act takes effect November 1, 2026.
The law sets a minimum annual assessment and caps the part based on loans serviced in Oklahoma. The schedule applies to annual assessment fees for mortgage broker and mortgage lender licenses. The annual assessment also includes a separate amount based on loans originated, with its own cap of $40,000. The minimum annual assessment is $1,000. The $35,000 cap applies beginning November 1, 2026; the $40,000 cap applies beginning November 1, 2027.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- May 14Becomes law without Governor's signature 05/14/2026Latest
- May 6Sent to GovernorTo Governor
- Vote recorded Third Reading. Result: pass.Lower
- May 6Signed, returned to Senate
- May 6Enrolled, to House
- May 6Referred for enrollment
- May 6Signed, returned to Senate
- May 6Third Reading, Measure passed: Ayes: 88 Nays: 3Major
- May 6General Order
- Apr 14CR; Do Pass Commerce and Economic Development Oversight CommitteeMinor
- Vote recorded Commerce And Economic Development Oversight Committee: Do Pass. Result: pass.Lower
- Mar 31Policy recommendation to the Commerce and Economic Development Oversight committee; Do Pass BusinessMinor
- Vote recorded Business Committee: Do Pass. Result: pass.Lower
- Mar 30Referred to BusinessMinor
- Mar 30Second Reading referred to Commerce and Economic Development OversightMinor
- Mar 12First ReadingMinor
- Mar 12Engrossed to HousePassed House
- Mar 11Referred for engrossment
- Vote recorded Third Reading. Result: pass.Upper
- Mar 11Measure passed: Ayes: 38 Nays: 0Passed Senate
- Mar 11General Order, Considered
- Mar 3Coauthored by Representative Moore (principal House author)
- Feb 24Placed on General Order
- Feb 19Reported Do Pass, amended by committee substitute Business and Insurance committee; CR filedMinor
- Vote recorded Do Pass Amended Cs. Result: pass.Upper
- 2025
- Feb 4Second Reading referred to Business and InsuranceMinor
- Feb 3Authored by Senator Reinhardt
- Feb 3First ReadingIntroduced
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