Hello - Any of you lending in the state of Texas, hearing anything regarding this? Would be interested if you've heard anything other than it being proposed...thanks
Texas Land Title Association formed a task force last year to determine how the new federal Closing Disclosure meshed with Texas Regulations. There are disclosures that are required in Texas that are either not accommodated on the federal disclosure or are not accurately represented on that form. This proposed separate Texas Disclosure form is a result of that effort and it addresses those conflicts and deficiencies.
The Texas Disclosure specifically addresses the conflict between how simultaneous issue is required to be shown on the federal Closing Disclosure and how Texas regulations treat simultaneous issue transactions. Additionally, it provides a place for items that are required to be disclosed in Texas but are not accommodated on the Closing Disclosure. Finally, it includes a place for the signature line authorizing the settlement agent to disburse funds according to the Closing Disclosure."
Instructions are
Proposed Procedural RuleThe new Disclosure is
Texas Disclosure Form T-64 :