Okay, I have never been an Oklahoma law expert and now I am confused. Our bank was bought by a holding company from Missouri and I am getting bombarded with questions regarding Oklahoma State law as it relates to wording in our consumer and commercial loan documents. I am having a difficult time knowing where to go search for the answers to their questions.
I have found online the following:
Oklahoma Department of Consumer Credit Title 14A
Department of Consumer Credit Title 160
Where else should I look? The state banking code doesn't address very much....I need to know things such as:
1. Are first mortgage loans in Oklahoma permitted to be written under the Federal preemption? If under the Federal Preemption, are late charges exempt from regulation?
2. Promissory Note Language - Is it permissible in Oklahoma to include freeze account language in the promissory note for consumer and residential real estate loans?
3. Is it permissible in Oklahoma to include a waive jury clasue in the promissory note for consumer & residential loans?
4. Does Oklahoma law address appraisal issues? Are there any standards I can find other than FDIC?
I know the first thing many might say is "get an attorney". Well you are basically barking up the same tree I am...I do all the footwork and I give it to the attorney to make the "final legal opinion", it cuts down on costs. I'm not stupid, but I can't make this stuff up. Any help would be VERY welcome!