Proposing a constitutional amendment to remove the requirement that a home equity loan be closed only at the office of the lender, an attorney at law, or a title company.

HJR 40 proposes a constitutional amendment to remove a requirement that home equity loans must be closed only at a lender's office, an attorney's office, or a title company. This change would allow these loans to be finalized at other locations, directly affecting Texas homeowners seeking home equity financing. The amendment targets Section 50(a) of the Texas Constitution, which currently restricts where such loans can be processed. The bill is pending in committee after being reported favorably.