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pussycat
Joined: 24 Jan 2005
Posts: 94
Location: Kansas City
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| Posted: Tue Jan 25, 2005 3:24 pm Post subject: Lending in Texas |
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| My team is venturing in to Texas. I need to know as much as possible about lending in Texas. Where can I go to find the rules and regulations. I have to have a detailed report to my boss by Friday. Any help would be appreciated. |
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BECCA9892003
Joined: 20 Jan 2005
Posts: 400
Location: Altoona, PA
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| Posted: Tue Jan 25, 2005 5:48 pm Post subject: |
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| im not to sure on the technical stuff with that state but i am aware they do have some different lending laws then the rest of the world..i would go to the state financial site and pull it and prepare to read it word for word....just to be safe |
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prmi_ae
Joined: 25 Jan 2005
Posts: 17
Location: Michigan
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| Posted: Wed Jan 26, 2005 2:17 pm Post subject: |
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| I don't believe there are cash out refi's in Texas. You might want to check that out. |
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Nikko
Joined: 20 Jan 2005
Posts: 536
Location: Northern CA
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| Posted: Wed Jan 26, 2005 5:06 pm Post subject: ! |
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| Pussycat, still waiting for your team to venture to California! |
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lodge1
Joined: 29 Jan 2005
Posts: 7
Location: Houston, TX
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| Posted: Sat Jan 29, 2005 4:08 am Post subject: lending in texas |
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| If you want to lend in TX you will need to be licensed whether you are a broker or a bank. Each indivual loan officer must be licensed under a specific broker. Getting licensed is easy if you have 3 or more years experience that you can verify. If you don't have the experience or some college under you, then you will have to take some classes, similar to realestate courses, to get licensed. Texas does do cash out loans but only up to 80%LTV on owner occupied properties. Investment properties can get cash out up to 100%. There are different rules for Online companies that lend in TX, I don't know what those are. This website will tell you everything you need to know: http://www.tsld.state.tx.us/ |
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