Tag Archive: "Texas"
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Texas Enacts Licensing Provisions
The Texas Finance Commission has adopted provisions regarding licensing requirements for certain licensees. These provisions are effective immediately.
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Texas Adopts Amendments Affecting Regulated Lenders
The Texas Office of Consumer Credit Commissioner has made a number of housekeeping changes to its rules under the Regulated Lenders and Credit Access Businesses chapter
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Texas Amends Provisions Regarding Home Equity Lending
The state of Texas has amended 7 TAC Chapter 153 Home Equity Lending. Key changes effective March 29th 2018 include: The current three percent fee limitation has been replaced with a two percent fee limitation. The revisions clarify that the fees included in the limitation calculation do not include certain third party charges such as […]
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Texas Adopts Mortgage Lending Provisions
Texas has adopted provisions related to mortgage lending. These provisions are effective as of January 7, 2018.
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Texas Adopts Pre-Licensing Education Provisions
The Finance Commission of Texas has implemented provisions regarding pre-licensing education. These provisions are effective as of January 4, 2018.
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Texas Approves Revisions to Home Equity Loans
Texas approved a proposed constitutional amendment that includes, but is not limited to, establishing a lower amount for expenses to borrowers and removing certain financing expense limitations for a Home Equity Loan (HEL), authorizing certain lenders to make HELs; changing certain options for the refinancing of HELs; amending the threshold for advances on an HEL; and expanding HELs to loans on agricultural homestead properties. These changes in Senate Joint Resolution 60 are effective on January 1, 2018.
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Texas Mortgage Lending Regulatory Round Up
The state of Texas revises and amends provisions concerning online notaries, digital assets, residential property power of sale and RMLO pre-licensing education requirements.
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Texas Adopts Provisions Concerning Home Equity Lending
The Finance Commission of Texas and Credit Union Commission adopted provisions concerning home equity lending, which will be effective on November 24, 2016. The provisions include sections concerning 3% fee limitation, security of the equity loan, pre-closing disclosures, one year prohibition, and authorized lenders.
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Texas Amends Regulated Lenders and Credit Access Provisions
The Texas Finance Commission, Office of Consumer Credit Commissioner, amended provisions under its chapter regarding Regulated Lenders and Credit Access Businesses. These provisions are effective on September 8, 2016.
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Texas Adopts Technical Regulatory Amendments
Effective June 30, 2016, the Texas Legislature has adopted several technical amendments to various provisions relating to Mortgage Bankers, Residential Mortgage Loan Servicers and Residential Mortgage Loan Originators in order to provide clarification and to improve grammar and readability.