OK SB1061

Defines "originated" as loans closed in the name of the mortgage broker or mortgage lender, explicitly excluding brokered loans from this definition

Establishes a phased increase in maximum annual assessment fees for loan servicing through 2027: $17,500 (Nov 2024), $27,500 (Nov 2025), $35,000 (Nov 2026), and $40,000 (Nov 2027)

Maintains minimum annual assessment fee of $1,000 and maximum of $40,000 for the loan origination portion of assessments across all years

Updates statutory references and reorganizes subsection lettering throughout Section 2095.6 of the Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act

Effective date: November 1, 2026