OK HB4352

Enacts the Oklahoma Uniform Mortgage Modification Act, codified in Title 46 of the Oklahoma Statutes, effective November 1, 2026

Preserves mortgage priority and lien position when modifications are made for extending maturity dates, decreasing interest rates, capitalizing unpaid interest, forgiving or forbearing principal, or modifying escrow/insurance requirements

Establishes that qualifying mortgage modifications do not constitute a novation and retain priority regardless of whether the modification is recorded in county records

Excludes from the act's scope modifications involving release or addition of encumbered property, changes to obligors, and assignments or transfers of mortgages

Directs courts to construe the act to promote uniformity among jurisdictions adopting similar legislation