Texas Lending Laws

Mortgage Lender Requirements

(b) A license holder who held a license under the texas regulatory loan act and was issued a license to make loans under that chapter as provided by Section 4, Chapter 274, Acts of the 60th Legislature, Regular Session, 1967, shall maintain for the office for which that license is held net assets of at least $15,000 that are used or readily.

(ii) a renewal or extension of a commercial loan described by Paragraph (A), regardless of the principal amount of the loan at the time of the renewal or extension; and.

Fair Lending Laws and Regulations Introduction This overview provides a basic and abbreviated discussion of federal fair lending laws and regulations. It is adapted from the Interagency Policy Statement on Fair Lending issued in March 1994. Lending Discrimination Statutes and Regulations . The equal credit opportunity act (ecoa) prohibits

The exceptions are claims from mortgage lenders. Texas’ exemptions is the Internal Revenue Service. It can garnish your wages or put a lien on your home to pay back taxes. “The IRS has.

Mortgage Assistance Programs Homeowners who are late on their mortgage payments by 90 days or more may find financial relief from a government loan modification program designed to keep them from losing their homes to foreclosure.

A Brief History of Home Equity Loans in Texas. Texas has a singular relationship with the home equity lending industry. The state banned home equity loans as late as 1997 and continues to subject lenders to far stricter constraints than most other states.

Superintendent dr. kathleen hermsmeyer says they do not allow “sectarian materials” on their state-authorized lending shelves. same persistence tactic used to further Sharia law. Thank God that.

The following is a list of agencies participating in the Fair Housing Assistance Program (FHAP). A person who believes he or she experienced housing discrimination may contact HUD for assistance.

Some Texas laws regarding home equity loan procurement include: Restrictions on mortgage debt: Borrowers can’t owe more than 80 percent of the market value of their home on their mortgage and home equity loans combined. That means if you already have a $40,000 mortgage against a home worth.

100 Home Refinance Home equity is the dollar-value difference between the balance you owe on your mortgage and the value of your property. When you refinance for an amount greater than what you owe on your home, you can receive the difference in a cash payment (this is called a cash-out refinancing).

 · The Texas legislature has passed laws that are designed to protect homeowners and their families, and the state did not even allow home equity loans until 1997. Since that time, state laws have been amended to allow for home equity loans, but the laws include strong protections for consumers.