Regulatory Updates Archives - Polunsky Beitel Green

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

Can You Close a Loan with Title Vested in a Life Estate? Fannie Mae Says Yes.

Fannie Mae recently updated its Selling Guide FAQ to address whether a mortgage secured by property titled in a life estate is eligible for delivery. The question asked was, “If the property is held in a life estate, what is required for the loan to ... Read More

Client Memos

FHFA Announces 2023 Conforming Loan Limit Values; Limits in Certain High-Cost Areas to Exceed $1 Million for the First Time

On November 29th, the Federal Housing Finance Agency (“FHFA”) announced that for 2023, baseline conforming loan limits for mortgages eligible for purchase by Fannie Mae and Freddie Mac will rise from $647,200 to $726,200, an increase of over twelve ... Read More

Client Memos

CFPB Receives Pushback on Interpretive Rule Promoting States’ Authority to Enforce The Consumer Financial Protection Act of 2010

Last month, we discussed Consumer Financial Protection Bureau’s (CFPB) May 19, 2022 Interpretive Rule, which sought to clarify the scope of state enforcement authority found in Section 1042 and other sections of the Consumer Financial Protection Act ... Read More

Client Memos

CFPB Clarifies Authority of States to Enforce The Consumer Financial Protection Act of 2010

On May 19th, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule clarifying the scope of state enforcement authority found in Section 1042 and other sections of the Consumer Financial Protection Act (CFPA). The rule ... Read More

Client Memos

Revised: All things New at Texas Savings and Mortgage Lending

New – Commissioner The Search Committee of the Texas Finance Commission has narrowed its search for a new commissioner for the Department of Savings and Mortgage Lending to final candidates and recommended interviews with the entire Finance ... Read More

Client Memos

Legislative Changes to Homestead Property Tax Exemption Effective January 1, 2022

Under Texas law, prior to January 1, 2022, persons buying residence property had to wait until the year following acquisition to file for a homestead ad valorem property tax exemption. As of January 1, 2022, the property tax exemption can now be ... Read More

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