C o r r e s p o n d eENHANCEMENT n t L e n d i n g - TEXAS SECTION 50(A)(6) DU LOANS TO BE ELIGIBLE BULLETIN #2015-13 TO: Distribution DATE: May 1, 2015 RE: Enhancements to Texas Home Equity EFFECTIVE DATE: May 4, 2015 ENHANCEMENT - TEXAS SECTION 50(A)(6) DU LOANS TO BE ELIGIBLE Summary: CMG will now accept Texas Section 50(a)(6) loans underwritten with DU under the same parameters and guidelines as allowed for LP loans. Texas Law continues to prevail. • • • Maximum loan amount $417,000 Maximum 10 acres of land that is urban or suburban property - non agricultural Refer to Conventional Conforming guidelines for additional requirements Sellers must provide closing documents approved by one of the following attorneys: • • • • Polunsky Beitel Green Black, Mann & Graham Pierson and Patterson, or Robertson, Anschultz and Vetter Please contact your Correspondent Regional Manager or your Correspondent Liaison with any questions. 3160 Crow Canyon Road, Suite 400, San Ramon, CA. 94583 | 800.501.2001 | NMLS #1820 | www.cmgfi.com © 2015, CMG Financial. All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS #1820, 3160 Crow Canyon Rd, Ste 400, San Ramon, CA 94583. Intended for mortgage professionals only. Not for consumer distribution. Not a commitment to lend. Pricing and terms are subject to change without notice. To verify our state licenses, please visit: www.nmlsconsumeraccess.com. For information about our company, please visit us at www.cmgfi.com.
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