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Home » Store » Ginnie Mae Issuance » Texas Agrees to Allow HECM Purchase Mortgages

Texas Agrees to Allow HECM Purchase Mortgages

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Ginnie Mae Issuance

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The Texas House of Representatives has approved legislation that will let voters decide on Nov. 5 whether to allow home-equity purchase lending in the Lone Star State. The bill would amend the Texas constitution to authorize Home Equity Conversion Mortgage for Purchase loans, which would make the program available to Texans for the first time. The state legislature voted 139 to 1 in favor of Senate Joint Resolution 18, which the Texas Senate approved unanimously in March. Specifically, the bill would amend the state constitution to ... [One chart]
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