I am curious about a Laser Pro Critical Warning indicating that an "Acknowledgement of Fair Market Value" is required by Texas law.

Anyone from Texas? Is this a document that you typically provide and have you been cited for not doing it?

If you are thinking about doing a home loan in Texas and have not done one before, this is probably the least of your worries. LaserPro or not, you need competent legal counsel involved to walk you through the process.

You may want to post this in the 'Texas' forum to get responses from posters in that state.

The document itself is not required by law. The constitution simply states that the bank and the owner must "agree to the value." But the issue is not that basic and simple and the constituion doesn't specify exactly HOW the agreement is to be documented.

You won't get "cited" for not having this document in file (unless by internal auditors). But if you don't have the document in file, you'll run into problems during foreclosure as your lien might be ruled invalid.

I agree with Randy. You need legal counsel advice, as Texas homestead lending is quite tricky.