Client Memos Archives - Polunsky Beitel Green

Understanding the Differences Between Title Insurance and Attorney Opinion Letters in Texas

Lately, there's been a buzz around the new Fannie Mae and Freddie Mac selling guidelines that allow an attorney opinion letter (“AOL”) to replace title insurance (a “Loan Policy”), sparking debates over the benefits and coverage of each ... Read More

Client Memos

MortgageLaw Minute: Texas Department of Savings and Mortgage Lending New Rules and Other Changes of Note

December is always a busy month for The Texas Department of Savings and Mortgage Lending (“SML”). Annual license renewals are the biggest matter, and this year comes with some changes. Both SML and NMLS have issued updates on Continuing Education ... Read More

Client Memos

MortgageLaw Minute – 2024 Updates at the Texas Department of Savings and Mortgage Lending

The Texas Department of Savings and Mortgage Lending held its 12th Annual Mortgage Industry Seminar on November 4, 2024. The Mortgage Industry Seminar was held in conjunction with the TMBA Education Symposium at the Hilton Dallas – Lincoln Centre. ... Read More

Client Memos

MortgageLaw Minute – Lenders Beware: The CFPB’s “Repeat Offender” Registry Is On The Horizon

September 16, 2024, is the effective date for the final rule creating the CFPB Nonbank Registry for covered nonbank financial institutions, also known as the “Repeat Offender” Registry. The rule requires nonbanks that offer consumer financial ... Read More

Client Memos

MortgageLaw Minute: The NAR Settlement and Realtor Practice Changes

Last Halloween, a jury verdict in Kansas City, Missouri sent shockwaves through the residential real estate community. In the class action case, Burnett vs National Association of Realtors, et al, the plaintiffs—sellers of homes in Missouri and a few ... Read More

Client Memos

MortgageLaw Minute: Texas Department of Savings and Mortgage Lending Issues Proposed Rule Changes

All Texas state agencies are required to review their rules for relevancy every four years. The mortgage regulations for the Texas Department of Savings and Mortgage Lending (“SML”) are now in that cycle, and SML has created a 141-page pre-comment ... Read More

Client Memos

MortgageLaw Minute: Key Considerations for Lenders Offering Texas Home Equity Lines of Credit

Recently we have seen an increase in the number of lenders interested in offering home equity lines of credit (“HELOCs”) in Texas. Some lenders are seeking to expand their existing HELOC programs into Texas, while others are looking to create a ... Read More

Client Memos

MortgageLaw Minute: Biden Administration Announces Loan Forgiveness Program for Homes in Path of Total Solar Eclipse

Today, the Biden Administration announced an “out-of-this-world” initiative aimed at providing relief and support to homeowners residing in the path of the upcoming total solar eclipse that will transit parts of the United States on April 8th. The ... Read More

Client Memos

MortgageLaw Minute: Texas Department of Savings and Mortgage Lending Highlights “Team Name” Requirements

In its February 2024 Emerging Issues Meeting, the Texas Department of Savings and Mortgage Lending highlighted the statutory and regulatory requirements for the use of “team names” by mortgage companies, mortgage bankers, and individual mortgage loan ... Read More

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