Texas Is Listening

So are other folks....
On December 11, 2009, the Federal Financial Institutions Examination Council proposed “Reverse Mortgage Products:  Guidance for Managing Compliance and Reputation Risks.”  It is located at 74 Federal Register 66652 (December 16, 2009).  Comments are due February 16, 2010.  It looks like a good step to help protect consumers of reverse mortgages.

TREC, TALCB INITIATE REVIEW OF RULES

AUSTIN (Texas Real Estate Commission) – The Texas Real Estate Commission (TREC) and Texas Appraiser Licensing and Certification Board (TALCB) yesterday announced a formal review of all agency rules in 2010.
This process is different from regular rulemaking proposals in that it will include consideration of public and regulated industry comments prior to the writing of rule proposal drafts.
“2010 will be the key year for a comprehensive review of all agency policies,” TREC Administrator and TALCB Commissioner Douglas E. Oldmixon said. “We will be initiating strategic planning in addition to this formal rule review. Instead of responding to proposals, participants will have the opportunity to provide input before draft rules are created, helping to shape how the agency implements statutes and policies.”
All of the rules under review will be posted in the Texas Register per state law and agency rulemaking procedure. TREC and TALCB are currently inviting comments on Texas Administrative Code, Title 22:

• Part VIII: TALCB, Chapter 155: Standards of Practice
• Part VIII: TALCB, Chapter 157: Practice and Procedure
• Part XXIII: TREC, Chapter 534: General Administration
• Part XXIII: TREC, Chapter 539: Residential Service Company Act