Okla. Stat. tit. 14A, § 14A-3-310

(1) In the case of any extension of credit that is secured by

the dwelling of a consumer, which is also subject to the Real Estate

Settlement Procedures Act, 12 U.S.C. Sections 2601 et seq., good-

faith estimates of the disclosures required by this part shall be

made in accordance with the rules of the Administrator of Consumer

Credit and shall be delivered or placed in the mail not later than

three (3) business days after the creditor receives the consumer’s

written application, which shall be at least seven (7) business days

before consummation of the transaction.

(2) In the case of an extension of credit that is secured by

the dwelling of a consumer, the disclosures provided for in

subsection (1) of this section shall be in addition to the other

disclosures required by this part and shall:

(a) state in conspicuous type size and format, the

following: “You are not required to complete this

agreement merely because you have received these

disclosures or signed a loan application”, and

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(b) be provided in the form of final disclosures at the

time of consummation of the transaction, in the form

and manner prescribed by this section.

(3) In the case of an extension of credit that is secured by

the dwelling of a consumer, under which the annual rate of interest

is variable, or with respect to which the regular payments may

otherwise be variable, in addition to the other disclosures required

by this part, the disclosures provided under this section shall do

the following:

(a) label the payment schedule as follows: “Payment

Schedule: Payments will vary based on Interest Rate

Changes”, and

(b) state in conspicuous type size and format examples of

adjustments to the regular required payment on the

extension of credit based on the change in interest

rates specified by the contract for such extension of

credit. Among the examples required to be provided is

an example that reflects the maximum payment amount of

the regular required payments on the extension of

credit, based on the maximum interest rate allowed

under the contract, in accordance with rules of the

Administrator.

(4) In any case in which the disclosure statement under

subsection (1) of this section contains an annual percentage rate of

interest that is no longer accurate, the creditor shall furnish an

additional corrected statement to the consumer, not later than three

(3) business days before the date of consummation of the

transaction.

(5) The consumer shall receive the required disclosures before

paying any fee to the creditor or other person in connection with

the consumer’s application for an extension of credit that is

secured by the dwelling of a consumer. If the disclosures are

mailed to the consumer, the consumer is considered to have received

them three (3) business days after they are mailed. A creditor or

other person may impose a fee for obtaining the consumer’s credit

report before the consumer has received the disclosures under this

section, provided the fee is bona fide and reasonable in amount.

(6) To expedite the consummation of a transaction, if the

consumer determines that the extension of credit is needed to meet a

bona fide personal financial emergency, the consumer may waive or

modify the timing requirements for disclosures under subsection (1)

of this section, provided that:

(a) the term “bona fide personal emergency” may be further

defined by rules of the Administrator,

(b) the consumer provides to the creditor a dated, written

statement describing the emergency and specifically

waiving or modifying those timing requirements, which

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statement shall bear the signature of all consumers

entitled to receive disclosures required by this

section, and
ay be further

defined by rules of the Administrator,

(b) the consumer provides to the creditor a dated, written

statement describing the emergency and specifically

waiving or modifying those timing requirements, which

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 136

statement shall bear the signature of all consumers

entitled to receive disclosures required by this

section, and

(c) the creditor provides to the consumers at or before

the time of such waiver or modification, the final

disclosures required by this part.

(7) The requirements set forth in subsections (1) through (5)

of this section shall not apply in the case of an extension of

credit relating to a plan described in 11 U.S.C. Section 101(53D).