This law requires lenders to wait at least one business day after providing a loan application and final itemized disclosure before closing a loan. It also prohibits closing a new loan secured by the same property within one year of a previous loan unless specific conditions are met.
Lenders must wait one business day after disclosure to close loans.
New loans on the same property cannot close within one year of previous loans.
Exceptions apply if the borrower provides an oath for early closing.
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In simple terms: Learn about Texas's law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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