The state of Texas has enacted a new law under the name HB 3080 which makes a temporary guardian or guardian and the surety on the bond liable for any excess compensation that they received. This happens when the court reduces or eliminates his/her compensation pursuant to the new law’s provisions that allows the court to do so under certain conditions.
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Texas Guardian Surety Bond
August 6, 2009 by Eric WeisbrotCategory: Court Bonds, Surety NewsTags: bond requirements, court, guardian, guardianship bond, legislation, texas, tx | Comments (0)
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JW Surety Bonds Website Gets A Facelift
August 5, 2009 by Michael WeisbrotOur marketing people recently suggested we change the look of our site to a more conservative feel. Our clip-art logos were cute, but they didn’t properly portray the level of professionalism our agency holds itself to. The cartoons are gone and pictures are real people are in. The site architecture is the same, but headers and other graphics have been changed.
So if you are looking for the surety bond agency with the cute cartoons on the website, the same old agency is here…we just have an updated look!
Category: OtherTags: jw bond, jw bond consultants, jw surety bonds, website | Comments (1)
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Texas Mortgage Broker License Bond
August 4, 2009 by Lisa GrimsleyOn 06/19/2009, Texas has enacted HB 2774. This eliminates the $25,000 net worth and $50,000 license bond requirement for mortgage brokers. This law requires that the financial requirements for holding a mortgage loan officer or mortgage broker’s license must be met through participation in the mortgage broker recovery fund; under Texas law in section 156.01 of the financial code, this already exists. The new law amends the recovery fund provisions. This change limits payments out of the fund to 25,000 aggregate for all claims arising from the same transaction, and to $50,000 as to all claims against a licensee. From now on this will not allow recovery of attorneys’ fees and court costs. Also, payments from the recovery fund will be reduced by any recovery from the surety or insurer. The banking regulators can use these funds to cover any costs of safely managing old mortgage loan documents and any financial responsibilities of administering the fund.Category: Commercial Bonds, Mortgage Broker Bonds, Surety NewsTags: bond requirements, legislation, license & permit bond, license bond, mortgage broker, surety bond, texas, tx | Comments (0)
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Texas Loan Originator Bond
August 3, 2009 by Lisa GrimsleyAs of 06/19/2009, Texas enacted HB 2779 which applies to mortgage originators that are employees of licensed mortgage bankers. The mortgage originators employed by mortgage bankers are defined as those entities that accept applications or make residential mortgage loans and that are approved as: 1) a mortgage with direct endorsement underwriting authority from the U.S. Department of Housing and Urban Development; 2) a seller/servicer of the Federal National Mortgage Association for the Federal Home Loan Mortgage Corporation, or 3) an issuer for the Government National Mortgage Association Lenders. HB 2779 now requires mortgage originators to be licensed and to comply with Chapter 180 requirements of the Finance Code. This new section, Chapter 180, is new to the Code enacted under HB 10; which requires mortgage loan originators that are employed by mortgage bankers pay a fee into a recovery fund or post a surety bond. On April 1, 2010 this law will be active.Category: Commercial Bonds, Mortgage Broker Bonds, Surety NewsTags: bond requirements, legislation, loan originator, surety bond, texas, tx | Comments (0)
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JW_Surety_Bonds Twitter Weekly Updates for 2009-08-02
August 2, 2009 by Michael Weisbrot- Added a tweet button to each page of the main site. See our Surety Bond Education section & retweet it if it helps you! http://bit.ly/3Pc1R #
- Added @IntenseDebate to my blog no problem (www.jwsuretybonds.com/blog), but it won't Tweet on blog comments. Is this a known bug? #
- Commented on Comments Easier Than Ever With Twitter & Facebook / Surety Bond Blog | JW Surety Bonds http://tinyurl.com/laobb8 #
Category: OtherTags: tweets, twitter | Comments (0)
