Oklahoma Mortgage Licensing
Oklahoma offers two license types, a Mortgage Broker and a Mortgage Lender License. The Broker License does require a bond or have a net worth requirement, but only allows you to serve as a broker in the state. The Lender License requires a bond in the amount of $100K and an Audited Financials reflecting a net worth of $25K but allows you to conduct brokering and lending activities. Both licensees require a named QI that must hold the OK MLO license. Oklahoma is like a handful of states that does require a separate Other Trade Name License (OTN) for any additional name you wish to conduct business under, unless you are utilizing a DBA in lieu of your legal company name.
| State | License Name | State Fee | Bond Premium Est. | SOS Fee | MLG Processing Fee | Total |
| Oklahoma | Mortgage Broker License | $1,760 | N/A | $300 | Call for More Information | $2,060 |
| Oklahoma | Mortgage Lender License | $1,760 | $750 | $300 | Call for More Information | $2,810 |
License: Mortgage Broker License
- Operating Status: Broker
- Bond Amount: N/A
- Net Worth: N/A
- Brick & Mortar: No
- Financial Type: N/A
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Mortgage Broker License
OK company license applications are one of the more expensive at almost $2,000. OK requires your qualified individual to be a licensed OK MLO. No bond is required for this license type.
License: Mortgage Lender License
- Operating Status: Broker/Lender
- Bond Amount: $100,000
- Net Worth: $25,000
- Brick & Mortar: No
- Financial Type: Audited
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Mortgage Lender License
OK company license applications are one of the more expensive at almost $2,000. OK requires your qualified individual to be a licensed OK MLO. Financial statements must reflect a net worth of at least $25K. This license also requires a high bond amount of $100K.
For more information or to speak to a representative for your state
call us today at 866-576-7726
**Fees & terms are subject to change without notice.**