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[PDF File]Home Equity Lending Guidance: Coronavirus Emergency …
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Apr 01, 2020 · An existing home equity loan may be modified at the request of the homeowner without violating the Texas Constitution if the modification is consistent with the opinion of the Texas Supreme Court in Sims v. Carrington Mortg. Services, L.L.C. 440 S.W.3d 10 (2014). In the context of an existing home equity loan in default, the court held that a ...

[PDF File]FACTS AT A GLANCE - Texas
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Texas home equity lending laws can be directed to the Office of Consumer Credit Commissioner (OCCC), which regulates the credit industry in Texas. The OCCC is located at 2601 N. Lamar Boulevard, Austin, Texas 78705. Inquiries may be made to its toll-free Consumer Helpline, 800-538-1579, or by

[PDF File]HOME EQUITY MORTGAGE LENDING IN TEXAS 2018
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Page 5 1. Voluntary Lien Texas Constitution Article XVI, Section 50(a)(6)(A) 7 TAC 153.2 The equity loan must be “secured by a voluntary lien on the homestead created under a written

[PDF File]Conforming Texas A6 Home Equity – Product Description
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2 Gateway Mortgage Group, LLC – Correspondent Lending Division Client Guide Rev 12.28.1 FINANCING TYPES Conforming Texas A6 Home Equity – Product Description (contd.) Texas Home Equity Restrictions Any Texas Section 50(a)(6) loan (first or second) is always restricted to the provisions of Texas Section 50(a)(6) for all subsequent refinances of that loan, if cash out will be received by ...

[PDF File]REGULATORY COMMENTARY ON EQUITY LENDING …
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the resolution will use the term “equity loan” for the ease of convenience and possibly for greater comprehension. An extension of credit is the same as an equity loan for the purpose of this discussion. An equity loan has been defined and authorized under the provisions of section 50(a)(6), Article XVI of the Texas Constitution.

[PDF File]Texas Refinance Guidelines - Guaranty Home Mortgage
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A Texas 50(f)(2) is the refinance of a loan that had a prior 50(a)(6) Texas Home Equity. All of the following must be met: • The mortgage amount is limited to the sum of the unpaid balance of the existing first mortgage, closing costs, points, pre-paid items, and if applicable, the amount required to satisfy certain subordinate lien(s)

[PDF File]Frequently Asked Questions Regarding Texas Home Equity ...
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a 2nd lien Texas home equity loan that is not going to be paid off at closing. 25) Question: Can you make a Texas home equity loan on a leasehold estate instead of fee simple title? Answer: Yes- but P&P must review the lease for Fannie or Freddie requirements. 26) Question: Can you make a Texas home equity loan if the property has an agriculture

[PDF File]Home Equity Lending Guidance: COVID-19 Emergency ... - Texas
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Modification of Existing Home Equity Loan: An existing home equity loan may be modified at the request of the homeowner without violating the Texas Constitution if the modification is consistent with the opinion of the Texas Supreme Court in Sims v. Carrington Mortg. Services, L.L.C. 440 S.W.3d 10 (2014). In the context of an existing home ...

Texas home equity guidelines