This month we’re premiering a new instructional video: Home Equity F2 Conversion featuring Calvin Mann’s expert overview of the main elements regarding converting a Texas home equity loan to a “rate and term” refi. Calvin explains why the old rule — once an equity, always an equity — is no longer in place, detailing guidelines that must be met for a successful conversion.
Check out our Resources page on the Black, Mann & Graham website for tools to stay current on rules and regulations that govern our business. You can also join our mailing list to receive our Clients and Friends memos sent directly to your inbox for timely overviews, thoughts, and interpretations from us on relevant industry topics. Here are links to our most recent memos:
CFPB Issues Prepaid Interest Factsheet for Use in Price-based General QM APR Calculations
CFPB Updated Examination Manual Adds Unfair, Deceptive, or Abusive Acts or Practices Examination Procedures (UDAAPs)
Joint Financial Regulatory Agencies Propose Amendments to Business Day Definition Concerning Home Equity Lending
Up next: Upcoming Events April 2022