Professions and occupations; mortgage broker annual fees; effective date.

This bill updates the licensing and renewal fees for mortgage brokers, mortgage lenders, and mortgage loan originators in Oklahoma. It modifies the annual assessment fee structure for mortgage brokers and lenders, setting new minimums and maximums based on loan volume, which will increase incrementally each year from November 1, 2024, through November 1, 2027. The bill also establishes new fees for initial and renewal applications for mortgage loan originators and sets a reinstatement fee for expired licenses.

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