Mortgages; Oklahoma Uniform Mortgage Modification Act; definitions; mortgage modification; effective date.

Summary

The bill establishes a statewide Uniform Mortgage Modification Act that defines key terms and sets out which changes to a mortgage are covered. It makes clear that a modified mortgage still secures the debt, keeps its lien priority, and is not treated as a new loan. Courts must interpret the act to promote consistency and it aligns with the federal Electronic Signatures law.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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