Notification to borrower of transfer of residential mortgage loan.

  1. Law
  2. Oklahoma Statutes
  3. Consumer Credit Code
  4. Notification to borrower of transfer of residential mortgage loan.

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Not later than thirty (30) days after the date on which a residential mortgage loan is sold or otherwise transferred or assigned to a third party, the creditor that is the new owner or assignee of the debt shall notify the borrower in writing of such transfer, including:

  • (a)the identity, address and telephone number of the new creditor;
  • (b)the date of transfer;
  • (c)how to reach an agent or party having authority to act on behalf of the new creditor;
  • (d)the location of the place where transfer of ownership of the debt is recorded; and
  • (e)any other relevant information regarding the new creditor.

Added by Laws 2012, c. 172, § 8, eff. July 1, 2012.


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