Some of our title companies are talking about a new mortgage release statute signed this year. However, when I search online, this is all I can find. Does anyone have any further info? Thanks!
New mortgage release laws coming to Oklahoma
Tuesday, May 05, 2015
Two bills that will change Oklahoma’s mortgage release laws have been signed by Gov. Mary Fallin. The first bill allows title insurance companies to execute affidavits to release mortgages from the county records under certain circumstances. The other allows the title companies to recover penalties against mortgage holders who don’t release mortgages within a certain amount of time after the mortgage has been paid off. Read on for more details