Safe Act Update and a Look into the Future with the Dodd Frank Bill

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On August 12, 2010, Douglas Foster, the Commissioner of the Texas Department of Savings and Mortgage Lending, issued a memorandum that basically suspended application of the Texas SAFE Act with respect to an owner of real property who in any 12 consecutive month period makes no more than five mortgage loans to purchasers of the property for all or part of the purchase price of the property securing such loan. Read more.

 

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