October 2, 2013
Government Shutdown Starts to Slow Lending Activity
ABC News | Oct. 1, 2013
As 800,000 federal workers are sent home following the government shutdown, lending to households and small businesses has been halted or slowed. The government's Small Business Administration, Federal Housing Administration and the Agriculture Department's Farm Service Agency are essentially out of reach for many people applying for funds. As government funding for these agencies has essentially been halted, these offices have been reduced to near ghost towns. The Small Business Administration said in a statement, "The Administration strongly believes that Congress should act immediately to end this shutdown and fund critical Government operations."
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HUD Proposes New Definition of Qualified Mortgage
DSNews | Sept. 30, 2013
HUD proposed a new definition of “qualified mortgage” (QM) in a statement released Monday. To meet the new QM requirements, a mortgage will have to require periodic payments, have terms not exceeding 30 years, limit upfront points and fees to no more than three percent with adjustments to facilitate smaller loans, and be insured or guaranteed by FHA or HUD.
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The TLTAPAC Needs Your Help — Donate to TLTAbay Today!
This Year's Auction Will Run Nov. 7 - 14
The TLTAbay online auction is an annual fundraiser benefiting the TLTAPAC. This year's auction will begin Thursday, Nov. 7, and run through Thursday, Nov. 14. We need your help to secure auction items and ensure another spectacular year. Suggested donation items include: electronics, gift cards, sporting event tickets, travel vouchers, vacations, spa packages and jewelry. Don't know what to donate? You can make a monetary donation and we'll do the shopping for you! Read more about the auction and make a donation
here or contact David Glenn for more information.
Upcoming TLTA Hot Topic Webinars — Register Today!
Nightmare on Entities Street: Handling Creatures of Statute That Go Bump in the Night
Thursday, Oct. 10 | 1:30 - 2:30 p.m.
Entities: What are they? Why do they exist? What do I do with them? Spend an hour with our knowledgeable presenter, Bruce Goldston, as he reviews the many types of entities. You'll come away with the basic knowledge of what they are, why we have them and how dealing with them is different from dealing with an individual. This webinar will cover the following types of entities: Schedule C requirements, vesting, bankruptcy, involuntary liens and examination issues.
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Guarding the Guardianship, Trusting the Trustee
Tuesday, Oct. 15 | 10:30 - 11:30 a.m.
This webinar will educate attendees on the basics of Texas Trust Law and Guardianships, including how to work with real property held in trust or subject to a court appointed guardianship, how to identify the appropriate trust or guardianship documents and what language to look for in each document and the possible challenges that may arise when dealing with trusts or guardianships and resolutions to such challenges.
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Navigating the Hazards of Construction Closings
Wednesday, Oct. 23 | 10:30 - 11:30 a.m.
This webinar will discuss the various aspects of construction loans, such as lien validity and priority, applicable rate and procedural rules, and the basics of closing these transactions. This presentation is geared to help a new closer with the ABC's of construction closings, but will also provide tools for the experienced closer to use to help solve problems that can arise on any construction transaction.
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