In the August 17, 2018, issue of the Federal Register (83 FR 41056, click here), the Rural Housing Service (RHS) published a request for information (RFI) seeking public comments on updating the provisions of the SFHGLP regarding the maximum interest rate, its impact on loan making to potential SFHGLP borrowers, and possible changes to the interest rate cap in order …
TDHCA Mortgage Credit Certificate Program
In the July 13, 2018 issue of the Texas Register, the Texas Department of Housing and Community Affairs published the following Notice regarding a Mortgage Credit Certificate Program for very low, low, and moderate income first-time homebuyers:
CFPB TRID Amendments Collapse the “Black Hole” effective June 1, 2018
In the May 2, 2018, issue of the Federal Register (83 FR 19159, click here) the CFPB published a final rule (2018 TRID Final Rule) to remove what is informally termed the “black hole” that prohibits resetting closing cost tolerances on a Closing Disclosure four or more days prior to closing. To accomplish this the 2018 TRID Final Rule amends …
Protected: Home Equity Mortgage Lending in Texas Manual – April 2018 Revision
This article is password protected. To gain access, please contact your client relations specialist.
CFPB Request for Comments Regarding the CFPB’s Consumer Complaint Handling Processes
In the April 17, 2018, issue of the Federal Register (83 FR 16839, click here), the CFPB published a request for information (RFI) seeking comments and information to assist it in assessing its handling of consumer complaints and consumer inquiries and, consistent with law, considering whether changes to its processes would be appropriate. The following is a redaction of …
CFPB Request for Comments on CFPB’s Guidance Materials and Activities
In the April 2, 2018, issue of the Federal Register (83 FR 13959, click here), the CFPB published a request for information (RFI) seeking comments and information to assist it in assessing the overall effectiveness and accessibility of its guidance materials, activities and implementation support; whether it would be appropriate to make changes, consistent with law, to the formats, processes, …
Real Estate Appraisal Threshold Increased for Commercial Real Estate Transactions
For financial institutions regulated by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, or the Federal Deposit Insurance Corporation (collectively, the agencies), effective April 9, 2018, these agencies adopted a final rule amending their respective appraisal regulations requiring appraisals of real estate for certain transactions. The final rule adds a definition …
CFPB Request for Comments on the Substance of CFPB’s Inherited Regulations Implementing Federal Consumer Financial Laws
In the March 26, 2018, issue of the Federal Register (83 FR 12881, click here), the CFPB published a request for information (RFI) seeking comments and information to assist it in considering whether, consistent with its statutory authority to prescribe rules pursuant to the Federal consumer financial laws, it should amend the inherited regulations or exercise the rulemaking authorities that …
Home Equity Lending Interpretation Amendments Adopted by the Finance Commission of Texas and Texas Credit Union Commission
Effective March 29, 2018, the Finance Commission of Texas and the Texas Credit Union Commission (herein “Commissions”) adopted amendments to the following home equity lending Interpretations: §§153.1, 153.5, 153.14, 153.17, 153.84, and 153.86; adopted new §153.45; and adopted the repeal of §153.87. These adopted changes to the Home Equity Lending Interpretations are published in the March 23, 2018, issue of …
CFPB Request for Comments on the Substance of CFPB’s Adopted Regulations Implementing Federal Consumer Financial Laws
In the March 21, 2018, issue of the Federal Register (83 FR 12286, click here), the CFPB published a request for information (RFI) seeking comments and information to assist it in considering whether, consistent with its statutory authority to prescribe rules pursuant to the Federal consumer financial laws, it should amend those rules it has promulgated since its creation or …