Client Memos Archives - Page 7 of 9 - Polunsky Beitel Green

Client Memo – I’M SUPPOSED TO DO WHAT FOR AN ASSUMPTION?

An assumption occurs when a creditor expressly agrees in writing with a subsequent consumer to accept that consumer as a primary obligor on an existing residential mortgage transaction. Before the assumption occurs, the creditor shall make new ... Read More

Client Memos

Client Memo – Texas Title Insurance Guaranty Fee

As you may be aware, prior to January 1, 2019, there was a special Texas title fee called a Guaranty Fee that was collected on Texas title policies. This fee was collected on each Texas title policy and was placed into a fund that would then be ... Read More

Client Memos

Client Memo – New Requirements for VA Guaranteed or Insured Cash-Out Refinance Loans

This memo pertains to VA issued Circular 25-18-30 on December 17th summarizing the new rules for cash-out refinance loans (see link below). These requirements include new disclosures: “VA Type I Cash-Out Refinance, Fee Recoupment Certification” and ... Read More

Client Memos

Client Memo-Suspension of the Guaranty Assessment Recoupment Charge

This memo addresses the suspension of the Guaranty Assessment Recoupment Charge or GARC. This is a special fee that Texas title companies have been collecting for each title policy for Texas properties. Note that if loan documents are signed during ... Read More

Client Memos

Client Memo-National Day Of Mourning and its Impact on Rescission and TRID Calendar

This memo discusses the recently-declared National Day of Mourning in honor of the passing of George HW Bush, the 41st President of the United States, impacts how dates are calculated for rescission under the Truth in Lending Act and other dates for ... Read More

Client Memos

Client Memo-Federal Agencies Limit Impact of Supervisory Guidance

The Federal Reserve Board, the Bureau of Consumer Financial Protection, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency issued a joint statement on September 11, ... Read More

Client Memos

Client Memo-Sunset Review for the Texas Department of Savings & Mortgage Lending : Update from the Hearing held May 24, 2018

As you may be aware, the Texas Department of Savings and Mortgage Lending (“SML”) is the subject of Sunset Review this year. The Texas Sunset Commission conducted their first hearing last Thursday, May 24th. Doug Foster, the former Commissioner of ... Read More

Client Memos

Client Memo-Sunset Review for the Texas Department of Savings & Mortgage Lending

This is a Memo in regard to the Sunset Review of the Texas Department of Savings & Mortgage Lending. The Texas Sunset Commission has recently released its report, which recommends abolishing the Texas Department of Savings and Mortgage Lending ... Read More

Client Memos

Client Memo-The CFPB Final Rule Addressing the Black Hole

Please be advised that the publication date in the Federal Register for the new TRID Final Rule addressing the “black hole” is May 2, 2018. The Black Hole refers to the inability, under the original TRID rule, for a Lender to reset tolerances with a ... Read More

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