The owner of the homestead and the lender must sign a written acknowledgment as to the fair market value of the homestead property on the date the extension of credit is made.

1. (1) For purposes of Section 50(a)(6)(Q)(ix), the phrase "on the date the extension of credit is made" modifies only the immediately preceding phrase "the fair market value of the homestead property," in accordance with the doctrine of last antecedent.
2. (2) A lender may sign the written acknowledgment before or at closing.
3. (3) An authorized agent may sign the written acknowledgment on behalf of the lender.

Source Note:The provisions of this §153.26 adopted to be effective November 26, 2020, 45 TexReg 8307.