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Texas Home Equity Bill Advances, SB 714/HB 1752 Update
Thursday, May 4, 2017 7:00 AM

Last night the Texas House Investments and Financial Services committee voted out SJR 60 by Senator Hancock (R-Fort Worth). The House companion HJR 99 by Rep. Parker (R-Flower Mound) is set for consideration in the House on Saturday, May 6, 2017. The Resolution makes updates to the home equity lending law relating the cap on fees, seasoned refinances of home equity loans, increasing the loan to value from 50% on home equity lines of credit and removing the agricultural exception for home equity loans.

SB 714 has been referred to the House Investments and Financial Services committee, no action currently scheduled. The companion HB 1752 remains pending business in the committee.

For more information, please contact Texas Credit Union Association President Jeff Huffman at 469-385-6488 or jhuffman@txcua.coop.