Want to learn more about what actions our state elected officials took earlier this year – and how they’ll affect your business?  Our Attorney David Dulock recaps highlights of the most recent session of the Texas Legislature in a four-part series found in the Clients and Friends Memos section of our Resource page.  The first update focuses on Senate Bill 2330, which grants temporary authority for certain individuals to act as a residential mortgage loan originator in Texas under certain condition.

The second recap highlights Senate Bill 614 and House Bill 1442.  Senate Bill 614 continues in existence the Finance Commission of Texas, the Department of Banking, and the Savings and Mortgage Lending Department to September 1, 2031.  House Bill 1442 continues in existence the Office of Consumer Credit Commission to the same date.

The third memo summarizes three bills effective immediately.  They include new laws regarding 1) reporting information to consumer reporting agencies; 2) homestead exemptions for properties rendered uninhabitable or unusable by a disaster; 3) and application of the limit on appraised values for certain homestead improvements for replacement structures rendered uninhabitable or unstable by a casualty, wind or water damage.

The final update summarizes 13 bills that were effective on or before September 1, 2019.  By the way, if you’d like regular, timely updates on laws, regulations, and policies that affect the industry, be sure to add your name to our mailing list.  If you’d rather have a conversation, we’re just a phone call away!