Police departments across the state of Texas will now be able to offer recruits student loan repayment assistance. This comes after Gov. greg abbott signed a bill into law this week. Senate Bill 16.
Becoming A Mortgage Lender Essentially, private money lenders serve as an alternative to the traditional lending institutions (big banks) people are so familiar with. As rookie investors become seasoned investors, they strive to aim higher. Leaving your hard-earned money in a savings account is no way to protect and grow your assets.
· predatory lending. fair lending laws also contain provisions to address predatory lending practices. Some examples follow: Collateral or equity "stripping": The practice of making loans that rely on the liquidation value of the borrower’s home or other collateral rather than the borrower’s ability to repay.
 The case law has not determined whether these requirements are affirmative defenses. Article XVI, section 50(a)(6) of the Texas Constitution requires a compliant home equity loan to: Be secured by.
Which Bank Is Offering The Lowest Mortgage Rates It’s because of these low Federal Reserve rates that mortgages are so low right now. Banks can get money from the Federal Reserve to cover mortgages at 0.75% and they essentially sell them at around 4%, keeping the difference as their profit. It makes no sense, when they can get money from the Fed at 0.75%, to offer much more than that on a savings account. They’d be absolutely silly to offer anything.
The Texas Department of Insurance (TDI) adopted the Bill of Rights and requires insurance companies to provide you a copy when they issue your policy. Texas law gives you certain rights regarding your homeowners, dwelling and renters insurance. This Bill of Rights identifies your rights specified by rule.
Texas law determines what is or is not considered home equity based financing, so be sure to check the terms of your loan or line of credit before considering a potential refinance. And, it’s important to remember that if you refinance a HELOC or HELoan to a non-home equity loan, you will forfeit protections afforded to you through home equity based lending laws.
Regulated consumer loans are made at rates of interest greater than 10%. Non-depository lenders who engage in making, transacting, or collecting loans with a rate of interest greater than 10% must be licensed by the OCCC. The most common types of regulated loans are made under one of two rate structures described in Chapter 342 of the Texas Finance Code Resources
Texas payday law covers all Texas business entities, regardless of size, except for public employers such as the federal government, the state or a political subdivision of the state. All persons who perform a service for compensation are considered employees, except for close relatives and independent contractors. Both employees and employers should be aware of the law so they will know their rights and responsibilities.
In accordance with Texas state law, an auto lender retains significant rights in cases where the buyer does not fulfill the terms of the financing contract. If the buyer defaults on the auto loan, the creditor has the right and legal authority to enter the consumer’s property and seize the vehicle without prior notice or consent.