With rates decreasing, we anticipate clients will originate more (f)(2) loans (also called A6 to A4 conversion loans). To help remind our clients about the product, we asked Houston Attorney Joshua Verkerk to explain what the product is and when to use it. Prior to...
Client & Friends Memo
Read articles below for analysis and discussion of recent trends by BM&G’s industry experts.
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Best Practices: Closing with a Power of Attorney
We're redistributing some of our more commonly asked questions at closing, so we asked Millie Simmons, our Fulfillment Manager in Flower Mound, for advice on this question: Millie, could you remind us about special considerations when closing with a Power of Attorney?...
Best Practices: Federal Right of Rescission
Monday, October 12, is a federal holiday and should not be counted in the federal three business day right of rescission. REMINDER - TRID Monday, October 12, is a federal holiday and should not be counted when calculating the seven business day waiting period between...
Best Practices: TRID Guidance on Loan Numbers
We sat down with Millie Simmons, our Closing Supervisor/Fulfillment Manager in Flower Mound, for advice about a common question that arises with a closing. Millie, is it acceptable for a loan to close with a Loan ID (loan #) showing ‘TBD?’ In this case, the CD has...
Best Practices: Using a CD to Lock a Loan
This month we’ll take a look at a common question that arises with a closing. We sat down with Tiffany Bahney, our Houston Closing Supervisor, to share her advice. Tiffany, may a CD be used to lock a loan? According to our attorneys, the answer is yes. However, based...
Best Practices: Advice for Meeting Funding Deadlines
Continuing our series of commonly asked questions at closing, we asked Millie Simmons, our Closing Supervisor/Fulfillment Manager in Flower Mound, for advice on how we can we meet funding deadlines and allow for a smoother funding process. Continuing our series of...
Best Practices: Warehouse Lines and the Importance of Wire Timing
Continuing our series of commonly asked questions at closing, we asked Tiffany Bahney, our Closing Supervisor/Fulfillment Manager in Houston, for advice on this question: Tiffany, how can we meet wire cutoff times and ensure a timely wire arrival? The answer is clear:...
The Extra Mile: Lisa Costilla
Each month we’re profiling a member of the BM&G team who’s gone the extra mile — above and beyond the call of duty — for the team and our clients. This month, we’re featuring Dallas Operations Manager Lisa Costilla. Lisa Costilla says her parents, both raised on...
Best Practices: Texas Survey Requirements Video
We’ve been so happy with your response from our series of instructional videos to help clients stay on top of industry topics, rules, and regulations. In case you missed Attorney and Partner Shawn Black’s presentation of Texas Survey Requirements, we’re sharing it...