Monthly Archives: December 2017

Texas Home Equity Changes Effective January 1, 2018

December 29, 2017 — Texas Constitution was amended on November 7, 2017 affecting Texas Home Equity loans. The fee cap was lowered from 3% to 2% of the original loan amount. It excludes:   a)bona fide discount points used to buy down the interest rate, b) appraisal performed by a third party appraiser, c) survey by a state registered or …
Read More

Home Mortgage Disclosure Act (HMDA) Requirements for 2018

December 8, 2017 — Gateway Mortgage Correspondent Lending Home Mortgage Disclosure Act (HMDA) Requirements for 2018: For loan applications taken starting January 1, 2018 Gateway requires the new Demographic Information Addendum of the Uniform Residential Loan Application (1003) to be completed.  If the Demographic Information Addendum is missing for applications dated on or after January 1, 2018, Gateway will …
Read More