Texas Constitutional Amendments Affecting Home Equity Loans (SJR 60)

On November 7, 2017 Texas voters will have the opportunity to vote on amendments to the Texas Constitution that if passed, will change the way Home Equity loans in Texas are originated. The amendments will expand home equity opportunities for both lenders and consumers. The new provisions permitting refi as a “rate and term refi” may be of special interest to lenders who do not offer home equity loans but could decide to offer a regular rate and term refi of a home equity loan under the new amendments.

Attend this overview of SJR 60 and learn how these changes, if passed, may benefit your bank and your customers.

Covered Topics:

  • Fee cap changes: The cap goes from 3% to 2% but certain fees are excluded. Learn what's in; what's out
  • 80% means 80%: Changes for HELOCs on subsequent advances
  • How can a home equity loan be refinanced as a traditional "rate and term refi"
  • Home Equity Lending on farm and ranch property
  • Effective dates: Navigating the transition and possible traps
  • Filling in the blanks: What new interpretations are anticipated from the Finance Commission to cover these new amendments

Who Should Attend?

Lending officers and their managers, loan administration personnel, loan review, compliance personnel and bank counsel.