Mortgage Industry News

The attorneys at Black | Mann & Graham publish residential mortgage industry specific news and changes in state and federal law to educate our community of attorneys, lenders, and customers. Join our newsletter at the bottom of the page to be notified when a new article is published.

TEXAS HOME EQUITY - F2 NOTICE FOR NON-HOME EQUITY

EFFECTIVE 1-1-18

Published on Wednesday, January 03, 2018 in Forms

TEXAS HOME EQUITY - 12-DAY NOTICE FOR HOME EQUITY LOANS

EFFECTIVE 1-1-18

Published on Wednesday, January 03, 2018 in Forms

New TREC Contract Forms Approved

Published on Friday, August 19, 2011 in Forms
n today’s issue of the Texas Register (Vol. 36, No. 33), the Texas Real Estate Commission published notice of the following revised standard real estate contract forms effective August 24, 2011. These form are available from the Texas Real Estate Commission’s website at http://www.trec.texas.gov/.

Amendments to ECOA and FCRA Adverse Action Notice Model Forms

Published on Wednesday, July 20, 2011 in Forms
In the July 15, 2011 Federal Register, the Federal Reserve Board (FRB) published a final rule amending the model notices in the Equal Credit Opportunity Act’s (ECOA) Regulation B (12 CFR Part 202) to implement the new credit score disclosure requirements of section 1100F of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) for adverse action notices under the Fair Credit Reporting Act (FCRA).

Model Privacy Form Under Gramm-Leach-Bliley Act (74 FR 62890)

Published on Friday, January 21, 2011 in Forms
The following federal agencies - Office of the Comptroller of the Currency (OCC); Board of Governors of the Federal Reserve System (FRB); Federal Deposit Insurance Corporation (FDIC); Office of Thrift Supervision (OTS); National Credit Union Administration (NCUA); and Federal Trade Commission (FTC) - published final amendments to their respective privacy rules (collectively “privacy rule”) that implement the privacy provisions of the Gramm-Leach-Bliley Act (“GLB Act”). The privacy rule requires financial institutions to provide initial and annual privacy notices to their customers. The federal agencies have amended their respective privacy rule to include a model privacy form (“model form”) that financial institutions may rely on as a safe harbor to provide disclosures under the privacy rule. In addition, the federal agencies are eliminating the safe harbor permitted for privacy notices based on the Sample Clauses currently contained in the privacy rule if the notice is provided after December 31, 2010. While the federal agencies are eliminating the Sample Clauses (effective January 1, 2012) and related safe harbor (effective January 1, 2011), institutions may continue to use notices containing the Sample Clauses, so long as these notices comply with the privacy rule.
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