Client Memos Archives - Polunsky Beitel Green

MortgageLaw Minute: 2023 Updates at the Texas Department of Savings and Mortgage Lending

11th Annual Mortgage Industry Seminar The Texas Department of Savings and Mortgage Lending will hold its 11th Annual Mortgage Industry Seminar on November 6th, 2023. The Mortgage Industry Seminar is held in conjunction with the TMBA Education ... Read More

Client Memos

MortgageLaw Minute: Texas Property Tax Reductions – Benefits and Other Considerations

As you may have heard, the citizens of Texas will vote on a Constitutional Amendment regarding property taxes on November 7, 2023. Proposition 4 if passed will raise the state mandated school tax homestead exemption to $100,000 from $40,000. There ... Read More

Client Memos

Marty Green Discusses What’s Next for Mortgage Rates

With the Fed’s rate hike pause on June 14th, questions remain about what will happen next and if mortgage rates will ever return to the “good old days” of 3%, 30-year fixed mortgage rates. Below, Marty Green opines on mortgage rate expectations over ... Read More

Client Memos

Can You Close a Loan with Title Vested in a Life Estate? Fannie Mae Says Yes.

Fannie Mae recently updated its Selling Guide FAQ to address whether a mortgage secured by property titled in a life estate is eligible for delivery. The question asked was, “If the property is held in a life estate, what is required for the loan to ... Read More

Client Memos

FHFA Announces 2023 Conforming Loan Limit Values; Limits in Certain High-Cost Areas to Exceed $1 Million for the First Time

On November 29th, the Federal Housing Finance Agency (“FHFA”) announced that for 2023, baseline conforming loan limits for mortgages eligible for purchase by Fannie Mae and Freddie Mac will rise from $647,200 to $726,200, an increase of over twelve ... Read More

Client Memos

CFPB Files Appeal of Fifth Circuit Decision Holding Bureau’s Funding Scheme Unconstitutional

On November 14, 2022 the CFPB filed a petition for a writ of certiorari with the United States Supreme Court, seeking to overturn the Fifth’s Circuit opinion in Community Financial Services Association of America (CFSA) v. CFPB, which vacated the ... Read More

Client Memos

Priority of Homeowner Association Assessment Liens and Subordination to the Mortgage Lien

We often receive questions concerning whether an assessment lien imposed by the subject property’s homeowner’s association (“HOA”) is superior to the lender’s mortgage. Many HOAs in Texas either expressly subordinate their assessment liens to ... Read More

Client Memos

CFPB Receives Pushback on Interpretive Rule Promoting States’ Authority to Enforce The Consumer Financial Protection Act of 2010

Last month, we discussed Consumer Financial Protection Bureau’s (CFPB) May 19, 2022 Interpretive Rule, which sought to clarify the scope of state enforcement authority found in Section 1042 and other sections of the Consumer Financial Protection Act ... Read More

Client Memos

CFPB Clarifies Authority of States to Enforce The Consumer Financial Protection Act of 2010

On May 19th, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule clarifying the scope of state enforcement authority found in Section 1042 and other sections of the Consumer Financial Protection Act (CFPA). The rule ... Read More

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