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.

Community Reinvestment Act Regulations – Proposed Amendments

Published on Wednesday, September 20, 2017 in Client and Friends Memo

In the September 20, 2017, issue of the Federal Register (82 FR 43910, click here) the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation  (collectively, the Agencies) published proposed amendments to their respective regulations implementing the Community Reinvestment Act (CRA) in order to amend the existing definitions of “home mortgage loan” and “consumer loan” and the public file content requirements to conform to the recent amendments made by the Consumer Financial Protection Bureau to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA), and to make technical amendments to remove unnecessary cross references as a result of the amended definitions, and to remove obsolete references to the Neighborhood Stabilization Program.

Regulation C (HMDA) Amendments

Published on Wednesday, September 13, 2017 in Client and Friends Memo

In the September 13, 2017, issue of the Federal Register (82 FR 43088, click here) the CFPB published a final rule amending its 2015 HMDA (Regulation C) Final Rule to: (i) make technical corrections and clarify certain requirements; (ii) temporarily increase the threshold for collecting and reporting data about open-end lines of credit for a period of two years so that financial institutions originating fewer than 500 open-end lines of credit in either of the preceding two years would not be required to begin collecting such data until January 1, 2020; and (iii) adopt a new reporting exclusion.

Regulation Z HOEPA and Qualified Mortgage Annual Threshold Adjustments

Published on Thursday, August 31, 2017 in Client and Friends Memo

In the August 30, 2017, issue of the Federal Register (82 FR 41158, click here), the Consumer Financial Protection Bureau established the following 2018 thresholds for high-cost and qualified mortgages under §§1026.32 and 1026.43, respectively.

Lender Responsibility under New Durable Power of Attorney Law

Published on Friday, August 11, 2017 in Client and Friends Memo

On July 13, 2017  (revised July 24, 2017), we posted on the firm’s website Legislative Update II summarizing the new requirements enacted into law by House Bill 1974 (click here) and Senate Bills 39 and 1193 (click here and here), which are effective September 1, 2017, that substantially affect durable powers of attorney under Chapters 751 and 752 of the Estates Code. If you have not read Legislative Update II, we advise that you do so before September 1, 2017, because it details important new requirements regarding the acceptance of or refusal to accept durable powers of attorney.

2017 Legislative Update IV from 85th Regular Session of the Texas Legislature – Miscellaneous Bills

Published on Tuesday, August 01, 2017 in Client and Friends Memo

This legislative update summarizes additional bills from the 2017 Legislative Session that we consider of interest to our clients. The effective dates of these bills are noted in the applicable bill summary. Previous to this legislative update, we issued Legislative Update I, summarizing proposed constitutional amendments and their enabling legislation, Legislative Update II, summarizing three bills that substantially affect durable powers of attorney, and Legislative Update III, summarizing bills relating to real property. Legislative Updates I, II and III are found on the Articles page of the firm’s website www.bmandg.com. 

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