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Read articles below for analysis and discussion of recent trends by BM&G’s industry experts.
Regulation Z HOEPA and Qualified Mortgage Annual Threshold Adjustments
In the September 21, 2023, issue of the Federal Register (88 FR 65113, click here), the Consumer Financial Protection Bureau...
Texas Constitutional Amendment Vote on HJR 2 and Property Tax Refresher
On November 7, 2023, Texas voters will vote on proposed amendments to the Texas Constitution. Among the proposed amendments is...
CFPB Circular 2023-03 Notifies Creditors of Adverse Action Reporting Requirements on Loans Underwritten Using Artificial Intelligence or Other Predictive Decision-Making Technologies
In a circular published September 19, 2023 (Consumer Financial Protection Circular 2023-03, link here ), the Bureau of Consumer...
Recent Texas Appellate Decision Highlights Texas Inheritance Law Complexities
In a decision delivered July 27, 2023, the Texas Court of Appeals, Fort Worth reaffirmed potential hazards for lenders...
2023 Texas Legislative Update
The Texas Legislature recently closed their biannual regular session. Black, Mann & Graham L.L.P. monitored the legislative...
Fannie Mae Updates Limited Cash-Out Requirements
On July 5, 2023, Fannie Mae issued an announcement (SEL-2023-06) updating their Selling Guide. Among the updates was a revision...
Accrual of Equitable Subrogation. PNC Mortgage v. Howard, 2023 WL 3398580 (TX Supreme Court 2023).
Since at least 1890, Texas has recognized the common-law doctrine of equitable subrogation. Texas Land & Loan Co. v....
March 2023 update to Fannie Mae/Freddie Mac Uniform Texas Home Equity Security Instrument (Form 3044.1)
In March 2023, Fannie Mae/Freddie Mac revised the tagline and signature block of Texas Home Equity Security Instrument (Form...
HUD Announces 30 Basis Point Reduction for Annual MIP Premiums
On February 22, 2023, the U.S. Department of Housing and Urban Development (“HUD”) announced a 30 basis point reduction to the...