If you need a refresher on Chapter 342 loans, here’s our video on Second Lien and Subordinate Lien Financing in Texas (Finance Code Chapter 342). BM&G Co-Managing Partner Greg Graham explains the four conditions under which a loan is subject to Chapter 342, such as when a loan is extended primarily for personal, family or household use. Check out the video to learn more and for details about the other conditions applicable to this type of loan.

As always, we are here to serve you, and welcome your calls and emails. By the way, be sure and check out our Resources page on our website for tools to stay current on rules and regulations that govern our business. Also check out our Clients and Friends section for our latest memos, including:

CFPB Creates New Category of Qualified Mortgages – Seasoned QM

Texas Finance Commission Adopts Amendments to Texas Administrative Code Chapter 80 (Texas Residential Mortgage Loan Companies) and Chapter 81 (Mortgage Bankers and Residential Mortgage Loan Originators)

Mortgagee Letter 2020-49 Revises Form HUD-92900-A, HUD Addendum to Uniform Residential Loan Application

Last, but importantly, our 2021 edition of the Texas Home Equity Manual has been published for our valuable clients and team members. If you’d like a copy, please reach out to your Client Relations Specialist or BMG contact.


Up next: The Extra Mile: Penny Parker