Texas Notice Concerning Extensions of Credit
Texas amended several constitutional provisions pertaining to home equity loans. The TX Notice Concerning Extensions of Credit was modified to implement the amendments. The following Texas constitutional amendments were made.
- Specify that the determination of whether a property is considered agricultural is made at the time of closing
- Prohibit the use of unsolicited preprinted checks to obtain advances under home equity lines of credit
- Allow borrowers to avoid the one-year waiting period between home equity loans in the event of a declared state of emergency
- Provide that borrowers may sign loan documents containing blank spaces so long as the terms of the agreement left to be filled in are non-substantive
- Require that borrowers receive a copy of the final loan application at least one business day prior to loan closing
The amendments were passed on November 6, 2007.
- Compliant Solutions
- Layers of Compliance
- Compliance Resources
- Investors
- High Cost Loan & Predatory Lending Check
- Compliance Updates
Mortgage Compliance Updates - Mortgage Loan Docs
Mortgage Document Updates - July 2008 The New HOEPA Rule - 2008 Housing and Economic Recovery Act - 2008 Mortgage Document Updates - June 2008 Rebuild After National Mortgage Crisis New Mortgage Legislation Effective July Courts Side With Borrowers Over Lenders Kentucky Emergency Rule (HB 552) Prepays FHA Mortgage Insurance Premium Calculations Mortgage Document Updates - May 2008 Kentucky Emergency Rule (HB 552) Home Foreclosure Blocked Due to Predatory Lending Violations HUD Proposes RESPA Reform 2008 California RE 885 Disclosure Mortgage Document Updates - March 2008 Massachusetts Borrower Counseling Disclosure Proposed Regulation-Z Changes Mortgage Document Updates - February 2008 DC Adds New Disclosure For Non-Conventional Loans Conforming Loan Limits Increased Mortgage Document Updates - January 2008 Countrywide Interest Credit Clarification Maine Net Tangible Benefit Disclosure Up New Massachusetts Regulations Take Effect Maine Requires Net Tangible Benefit Form Colorado Emergency Prepay Rule MERS Requires Street Address on NY Docs California Certificate of Acknowledgement Change Texas Notice Concerning Extensions of Credit Colorado Adopts Emergency Rule
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