Insights Archive - Page 16 of 19 - Polunsky Beitel Green

Client Memo – Equitable Subrogation A Home Equity Lender’s Salvation

Equitable subrogation is an important legal principal under Texas law that allows a lender whose loan proceeds are used to pay off an existing lien to claim the lien priority of the lien being paid off by the new lender. In 2007, the Texas Supreme ... Read More

Client Memos

Client Memo – Temporary Authorization of Remote Ink-Signed Notarization for Texas Real Estate Closings

We want to inform you that Governor Abbott today issued a press release regarding an Order temporarily suspending the requirements of Texas Civil Practice and Remedies Code Section 121.006(c)(1), which contemplates that a notary witness a wet-signed ... Read More

Client Memos

Client Memo – Regarding Temporary Suspension on Certain In Person Notary Acts

Please be advised that Governor Abbott issued a press release this afternoon which indicates he has temporarily suspended the statutory requirement that a person appear before a Texas notary for certain documents to be acknowledged. This directive ... Read More

Client Memos

Client Memo – Regarding Fannie Mae Lender Letter LL-2020-03 Modifying Requirements for Use of POAs

We wanted to let you know that on March 31, 2020, Fannie Mae updated Lender Letter (LL-2020-03) to include new requirements and flexibility in the use of Powers of Attorney (“POA”) in purchase and limited cash-out refinance transactions. Fannie Mae ... Read More

Client Memos

Client Memo – Regarding Finance Commission Agency Guidance on Coronavirus and Response Thereto As It Relates To Mortgage Lending

We wanted to alert you to the attached informal guidance that has been issued by the Texas Finance Commission agencies, including the Texas Department of Banking, the Texas Department of Savings and Mortgage Lending, the Texas Office of Consumer ... Read More

Client Memos

Client Memo – Coronavirus and Our Service Level Commitment

As COVID-19 cases continue to increase and the public response and precautions become more pronounced, we wanted to take a moment to reassure you regarding the services our firm provides for you and our other clients. For many years, we have had ... Read More

Client Memos

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

Investment Cash-Out Loan Versus Home Equity Loan

Below is a Texas refinance loan scenario on a residential property that creates a stalemate for the Lender, Title Company and Borrower. Facts: Ted Mosby (“Borrower”) has owned and lived in his Texas home for 10 years. Borrower has received ... Read More

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