Oklahoma business briefs for July 10

Oklahoma business briefs for July 10
Published: July 10, 2013
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Oklahoma briefs

Mortgage lenders need license

Mortgage lenders in the state will be required to obtain a license through the Nationwide Mortgage Licensing System beginning in November, the Oklahoma Department of Consumer Credit said Monday. The license will be required of all entities in the state that take applications, make or service residential mortgages in the state. Mortgage lenders also will be required to maintain a $100,000 bond to ensure compliance with the law, as well as maintain a minimum net worth of $25,000 and pay an initial $1,660 fee to the Department of Consumer Credit.

NGL prices its public offering

— NGL Energy Partner said Tuesday it has priced its public offering of 9 million common units at $29 per unit. The underwriters have a 30-day option to purchase up to 1.35 million additional units. The Tulsa-based energy company said the offering is expected to close July 15 and that it plans to use proceeds from the sale to pay debt and for general partnership purposes, including capital expenditures and potential acquisitions.

From Staff Reports



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