What an Oklahoma mortgage loan officer license costs
The number a course provider advertises is one line of this bill. Before you originate a single loan in Oklahoma you also owe the Nationwide Multistate Licensing System, usually written NMLS, for processing your application, a background check, a credit report and the Secure and Fair Enforcement (SAFE) Act test for mortgage loan originators, and you owe Oklahoma Department of Consumer Credit for the license itself. Those fees are owed whichever course you pick, so comparing tuition alone understates what getting licensed costs. Everything below is a one-time cost per person unless it says otherwise.
Fees you pay whichever course you choose
| NMLS initial set-up fee Charged when you first file the individual MU4 form. | $35 |
| SAFE MLO test fee One national test. Every state has adopted it, so there is no second state exam to pay for. | $110 |
| Criminal background check Add a $10 card packet fee if you submit fingerprints on a print card rather than by Livescan. | $36 |
| Credit report Charged at new application unless NMLS already holds a report less than 30 days old. | $15 |
| Oklahoma Mortgage Loan Originator License application fee Paid to Oklahoma Department of Consumer Credit. | $200 |
| Oklahoma license fees Collected through NMLS at licensure and made up of a $200 annual license fee, a $50 examination fee and a $10 recovery fund fee. With the $200 application fee Oklahoma takes $460, the second highest state charge on this site. | $260 |
| Fees total | $656 |
Course tuition
Oklahoma courses in our comparison run from $35 to $629. That has to cover all 20 required hours , and where a package includes the state-specific hours the comparison table says so.
Cheapest realistic total
$691 using the cheapest listed course
What it costs every year after that
The license is renewed annually. Budget $35 for the NMLS annual processing fee, whatever Oklahoma Department of Consumer Credit charges to renew, and the cost of your continuing education hours.