by brandon | Sep 21, 2010 | Real Estate Law
Dear Credit Union Mortgage Lenders: The definition of “Mortgage Loan Originator” in the attached sample SAFE Act Policies and Procedures has been revised to follow the federal SAFE Act definition (rather than the Texas SAFE act definition). Under the federal...
by brandon | Sep 20, 2010 | Real Estate Law
The following information highlights basic Credit Union compliance with the SAFE Act. The NCUA has announced that Credit Unions must adopt a written SAFE Act compliance policy by October 1, 2010. A sample SAFE Act Policies/Procedures is attached to this Law Letter...
by brandon | Jul 9, 2010 | Real Estate Law
This memo is a reminder to all Residential Mortgage Lenders of Regulation Z’s new requirements for “Higher Priced Loans”. A “Higher Priced Loan” is defined under Reg. Z as “a consumer credit transaction secured by a consumer’s principal dwelling with an annual...
by brandon | Dec 11, 2009 | Real Estate Law
Dear Mortgage Lenders: On Friday, December 5, 2008 the Federal Reserve proposed several very important changes to Regulation Z that if adopted would become effective on July 30, 2009. The period for public comment to the proposed changes ends on January 23, 2009. The...
by brandon | Apr 15, 2009 | Real Estate Law
Effective May 1, 2009, residential mortgage lenders who sell loans to Fannie Mae/Freddie Mac must adopt and comply with the Home Valuation Code of Conduct (HVCC). Lenders who do not sell loans to Fannie Mae/Freddie Mac are not affected by the HVCC. The HVCC is not...
