§59-2095.3. Exemptions.

59 OK Stat § 59-2095.3 (2019) (N/A)

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The following are exempt from all provisions of the Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act:

1. Registered mortgage loan originators, when acting for an entity described in divisions (1), (2) and (3) of subparagraph a of paragraph 18 of Section 2095.2 of this title;

2. An individual who offers or negotiates or modifies terms of a residential mortgage loan with or on behalf of an immediate family member of the individual;

3. An individual who offers or negotiates or modifies terms of a residential mortgage loan secured by a dwelling that served as the individual's residence;

4. A licensed attorney who negotiates or modifies the terms of a residential mortgage loan on behalf of a client as an ancillary matter to the attorney's representation of the client, unless the attorney is compensated by a lender, a mortgage broker or other mortgage loan originator or by any agent of such lender, mortgage broker, or other mortgage loan originator; or

5. Entities described in divisions (1), (2) and (3) of subparagraph a of paragraph 18 of Section 2095.2 of this title.

Added by Laws 2009, c. 190, § 6, eff. July 1, 2009. Amended by Laws 2010, c. 415, § 25, eff. July 1, 2010; Laws 2015, c. 320, § 2, eff. Nov. 1, 2015.

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