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 amymslife
Joined: 03 Oct 2007
Posts: 2
1.49 Dollars($)
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 Posted: Wed Oct 03, 2007 9:24 am Post subject: We are an Arizona broker firm. Can we charge a Texas consum |
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| They are doing a cash out refinance with us. |
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livinginnky
Moderator
Joined: 08 Sep 2007
Posts: 637
29.96 Dollars($)
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| Posted: Wed Oct 03, 2007 9:44 am Post subject: |
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You want to become very aware of Texas laws. They are different than any other state and most lenders stay away from TX. You can face severe penalties if you originate in TX and don't fully understand what you are doing. Not to say you are doing anything illegal but things are definately handled differently in Texas.
I am by no means a TX expert because as I stated before I was warned to stay away long ago.
The best thing to do would be to contact the Texas Department of Financial Institutions or whatever it is called there.
Also if I remember correctly you cannot charge the same fees as most other states. But I am unable to tell you what you can charge in YSP.
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Eric Matthews
Mortgage Refinance and Home Loan Guide |
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amymslife
Joined: 03 Oct 2007
Posts: 2
1.49 Dollars($)
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| Posted: Wed Oct 03, 2007 10:11 am Post subject: Thank you Eric |
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| I know all of what you stated for Texas. Can Anyone answer my question on the YSP in Texas? |
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ckalvesmaki
Community Experts
Joined: 28 Jan 2006
Posts: 378
Location: Dallas
56.65 Dollars($)
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| Posted: Wed Oct 03, 2007 10:11 am Post subject: |
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There is nothing wrong with collecting YSP in TX.......
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Cedric Kalvesmaki
***Professional Disclaimer***
While I am a Mortgage Professional, this advice is generic in nature only.
888-383-9019
emails and PMs gladly answered
www.freedommortgagetexas.com
Freedom Mortgage
I live in TX but cover all 50 states |
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