July 13, 2022
In This Issue:
- Texas Finance Commission Adopts Amendments to Definition of "Business Day" In Context of Home Equity Lending Disclosures
- Texas Realtors: New, Updated Forms Now Available
- Texas’ Manufactured Housing Demand Slips, Could Slow in Second Half of 2022
Texas Finance Commission Adopts Amendments to Definition of "Business Day" In Context of Home Equity Lending Disclosures
TLTA | July 13, 2022
The following notice was published in the Texas Register Friday, July 8, 2022:
The Finance Commission of Texas and the Texas Credit Union Commission ("commissions") adopts amendments to §153.1 (relating to Definitions) in 7 TAC, Chapter 153, concerning Home Equity Lending.
7 TAC Chapter 153 contains the commissions' interpretations of the home equity lending provisions of Texas Constitution, Article XVI, Section 50 ("Section 50"). In general, the purposes of the rule changes to 7 TAC Chapter 153 are: (1) to amend the definition of "business day" to ensure that the definition appropriately excludes legal public holidays, reflects the common understanding of "business day" in the context of mortgage loan disclosures, and is consistent with similar definitions under federal law, and (2) to make technical corrections to ensure consistency in the text of other definitions.
Read Notice in Texas Register »
Texas Realtors: New, Updated Forms Now Available
Texas Realtors | July 7, 2022
Earlier this year, Texas Realtors task forces examined the association’s forms and proposed changes and new forms. Those proposals were published in April, and members were given a month to submit comments. The task forces discussed all the comments and feedback and adopted the following changes and new forms.
All adopted and revised forms go into effect July 8.
Review Summary of Substantive Changes and Learn More »
Texas’ Manufactured Housing Demand Slips, Could Slow in Second Half of 2022
Texas A&M Real Estate Research Center | July 5, 2022
Recent recessionary concerns suggest a possible slowdown in manufactured housing sales for the remainder of 2022, according to industry experts and the Texas Real Estate Research Center at Texas A&M University (TRERC).
The latest Texas Manufactured Housing Survey (TMHS) sales index registered its lowest reading on record (the series began in June 2020), and activity is expected to slow in the second half of the year.
Read More »
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