Tex. Fin. Code § 156.002 · Subchapter A. GENERAL PROVISIONS
DEFINITIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
In this chapter:
(1) "Auxiliary mortgage loan activity company" means a political subdivision of this state or the federal government doing business for consumers in this state, or an organization that qualifies for an exemption from state franchise and sales and use tax as a 501(c)(3) organization, that is involved in affordable home ownership lending programs.
(1-a) "Commissioner" means the savings and mortgage lending commissioner.
(1-b) "Credit union subsidiary organization" has the meaning assigned by Section 180.002.
(1-c) "Department" means the Department of Savings and Mortgage Lending.
(2) "Disciplinary action" means an order by the commissioner that requires one or more of the following:
(A) suspension or revocation of a license or registration under this chapter;
(B) probation of a suspension or revocation of a license or registration under this chapter on terms and conditions that the commissioner determines appropriate;
(C) a reprimand of a person licensed or registered under this chapter; or
(D) an administrative penalty imposed on a person licensed or registered under this chapter under Section 156.302.
(3) "Finance commission" means the Finance Commission of Texas.
(4) Repealed by Acts 2011, 82nd Leg., R.S., Ch. 655, Sec. 65(a)(1), eff. September 1, 2011.
(4-a) "Independent contractor loan processor or underwriter company" means a corporation, company, partnership, or sole proprietorship that receives compensation for an individual performing clerical or support duties as an independent contractor loan processor or underwriter at the direction of a licensed residential mortgage loan originator.
(4-b) "Inspection" includes examination.
(5) Repealed by Acts 2011, 82nd Leg., R.S., Ch. 655, Sec. 65(a)(1), eff. September 1, 2011.
(6) Repealed by Acts 2011, 82nd Leg., R.S., Ch. 655, Sec. 65(a)(1), eff. September 1, 2011.
(6-a) "Loan processor or underwriter" has the meaning assigned by Section 180.002.
(7) "Mortgage applicant" means:
(A) an applicant for a residential mortgage loan; or
(B) a person who is solicited to obtain a residential mortgage loan.
(8) "Mortgage banker" has the meaning assigned by Section 157.002.
(8-a) "Mortgage company" means a corporation, company, partnership, or sole proprietorship that engages in the business of residential mortgage loan origination on residential real estate located in this state.
(9) Repealed by Acts 2011, 82nd Leg., R.S., Ch. 655, Sec. 65(a)(1), eff. September 1, 2011.
(10) Repealed by Acts 2011, 82nd Leg., R.S., Ch. 655, Sec. 65(a)(1), eff. September 1, 2011.
(10-a) "Nationwide Mortgage Licensing System and Registry" has the meaning assigned by Section 180.002.
(10-b) "Qualifying individual" means an individual who is:
(A) licensed under Chapter 157 as a residential mortgage loan originator; and
(B) designated by a residential mortgage loan company as the company's representative.
(10-c) "Recovery fund" means the fund established and maintained by the commissioner under Subchapter F and Section 13.016.
(11) "Registered financial services company" means a person registered under Section 156.2012.
(12) "Residential mortgage loan" has the meaning assigned by Section 180.002.
(13) "Residential mortgage loan company" means a person, other than an individual, that engages in the business of residential mortgage loan origination on residential real estate located in this state. The term includes a credit union subsidiary organization, auxiliary mortgage loan activity company, mortgage company, independent contractor loan processor or underwriter company, and financial services company.
(14) "Residential mortgage loan originator" has the meaning assigned by Section 180.002.
(15) "Residential real estate" has the meaning assigned by Section 180.002.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 1254, Sec. 2, eff. Sept. 1, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 228 (H.B. 1716), Sec. 1, eff. September 1, 2007.
Acts 2007, 80th Leg., R.S., Ch. 905 (H.B. 2783), Sec. 1, eff. September 1, 2007.
Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.052, eff. September 1, 2007.
Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 5, eff. September 1, 2011.
Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 65(a)(1), eff. September 1, 2011.
Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 3, eff. September 1, 2013.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.156.htm
- Text hash
- sha256 926698c5d06691b13f5bc75a5e4eb36c126f08f78d7ea84dff3fdd414b966d7e
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Finance Code
- Tex. Fin. Code § 13.016RECOVERY FUND.Printed as Section 13.016
- Tex. Fin. Code § 156.2012REGISTERED FINANCIAL SERVICES COMPANY.Printed as Section 156.2012
- Tex. Fin. Code § 156.302ADMINISTRATIVE PENALTY.Printed as Section 156.302
- Tex. Fin. Code ch. 157MORTGAGE BANKERS AND RESIDENTIAL MORTGAGE LOAN ORIGINATORSPrinted as Chapter 157
- Tex. Fin. Code § 157.002DEFINITIONS.Printed as Section 157.002
- Tex. Fin. Code § 180.002DEFINITIONS.Printed as Section 180.002
Cited by 1 provision
Provisions in this library whose text cites Tex. Fin. Code § 156.002. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.