{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-3-411","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-3-411","heading":"Refinancing loan to subsection 10 mortgage – Borrower’s","body":"interest.\n\nA creditor may not refinance any consumer loan to the same\n\nborrower into a loan subject to subsection (10) of Section 1-301 of\n\nTitle 14A of the Oklahoma Statutes, unless the refinancing is in the\n\nborrower’s interest. Factors to be considered in determining whether\n\nthe refinancing is in the borrower's interest include, but are not\n\nlimited to, whether:\n\n(a) the borrower's new monthly payment is lower than the total\n\nof all monthly obligations being financed, taking into account the\n\ncosts and fees;\n\n(b) there is a change in the amortization period of the new\n\nloan;\n\n(c) the borrower receives cash in excess of the costs and fees\n\nof refinancing;\n\n(d) the borrower's note rate of interest is reduced;\n\n(e) there is a change from an adjustable to a fixed rate loan,\n\ntaking into account costs and fees; or\n\n(f) the refinancing is necessary to respond to a bona fide\n\npersonal need or an order of a court of competent jurisdiction.\n\nA creditor is prohibited from engaging in acts or practices to\n\nevade this provision, including a pattern or practice of arranging\n\nfor the refinancing of its own loans by affiliated or unaffiliated\n\ncreditors, or modifying a loan agreement, whether or not the\n\nexisting loan is satisfied and replaced by the new loan, and\n\ncharging a fee.","path":["OK Code","Title 14A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os14A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"2acc5fa55328e74af5a88f67cfb92ab13d936354a48a89fce4d75c582a9e16ed","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-3-410","next":"us-ok/okla.-stat.-tit.-14a-14a-3-501"},"notice":"GroundRules: Original legal text. Not legal advice."}