Finance
Under Oklahoma law, a mortgage lender who fails to release a satisfied mortgage lien from the public records within the required time may be subject to:
ANo penalty if the borrower has been notified
BStatutory penalties and the borrower's actual damages for failure to release the lien timely✓ Correct
COREC disciplinary action
DFederal investigation only
Explanation
Oklahoma law requires mortgage lenders to record a release of lien within a specified period after the loan is paid in full. Failure to do so in a timely manner can subject the lender to statutory penalties and the borrower's actual damages caused by the delay.
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