Insights Archive - Page 11 of 15 - Polunsky Beitel Green

Client Memo – Texas Mortgage License Renewals

Effective September 1, 2020 Texas Department of Savings and Mortgage Lending Director of Mortgage Examination, Tony Florence, also assumed the duties as Director of Licensing. Director Florence has already made several positive changes including ... Read More

Client Memos

Client Memo – Refresher on the Requirements for a Texas 50(f)(2) Rate/Term Refinance of an Existing Home Equity Loan

Refinances now make up over 60% of the loan applications according to the latest MBA Weekly Survey. As refinances fill lenders’ pipelines, we thought it would be timely to revisit the particular requirements and aspects of the Texas 50(f)(2) loan, as ... Read More

Client Memos

Client Memo – Update Fannie Mae and Freddie Mac Delays Implementation of New Adverse Market Refinance Fee

Last week we informed you of a new directive from Fannie Mae and Freddie Mac (collectively the “GSEs”) to charge an adverse market fee on refinance loans delivered to the GSEs on or after September 1, 2020. In response to the controversial ... Read More

Client Memos

Client Memo – Fannie Mae and Freddie Mac Announce New Adverse Market Refinance Fee

On Wednesday, August 12, the Federal Housing Finance Agency (“FHFA”) announced that Fannie Mae and Freddie Mac (collectively the “GSEs”) will impose a 50-basis-point adverse market fee on refinance loans purchased by the GSEs. Effective for loans ... Read More

Client Memos

Refinance Transactions – Fannie Mae v. Texas Law

In Texas, the term “cash out” is commonly used to describe a home equity loan originated under Section 50(a)(6), Article XVI of the Texas Constitution. However, the term “cash out” is also used to define a refinance transaction under the Fannie Mae ... Read More

Client Memos

Client Memo – Regulatory Resources concerning Covid-19

State regulators have shifted to remote operations just like many financial service companies. This adjustment includes significant expansion of offsite examination procedures. Additionally, on behalf of state regulators, the Conference of State Bank ... Read More

Client Memos

Client Memo – The United States Supreme Court Holds that the President May Remove CFPB Director at Will

Today, the U.S. Supreme Court held that the President has the authority to remove the Director of the Consumer Financial Protection Bureau at will, but that the CFPB may otherwise continue operating. The 2010 Dodd-Frank Wall Street Reform and ... Read More

Client Memos

Client Memo – Community Property and Homestead Rights in Texas. When Does a Non-Titled Spouse Need to Sign the Security Instrument?

Texas recognizes both community property rights and homestead rights in real property. When title to real property is held in the name of only one spouse, questions often arise as to whether either (or both) of these rights require that a non-titled ... Read More

Client Memos

Client Memo – EXTENSION OF Temporary Authorization of Remote Ink-Signed Notarization (RIN) for Texas Real Estate Closings

We want to inform you that the order of the Governor, which temporarily suspended the requirements of Texas Civil Practice and Remedies Code Section 121.006(c)(1) to permit that a notary to witness wet-signed documents in a real estate transaction by ... Read More

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