Governor Mary Fallin signed SB-377 on May 12, amending provisions relating to the Oklahoma SAFE Act (the Act). The amendment clarifies the Act by adding references to “mortgage lenders” and “servicing” throughout the Act and removes the ability for licensed mortgage brokers, mortgage lenders, and mortgage loan originators (MLOs) to request inactive licensure status. The measure also modifies the education requirements for an MLO by adding one hour of Oklahoma law and regulations to the 20 total hours of pre-licensing education requirements. Finally, the amendment removes the requirement that an MLO must complete his or her continuing education credits in a classroom setting at least every two years. The amendment is effective November 1, 2015.