Tex. Fin. Code § 156.555 · Subchapter G. MORTGAGE GRANT FUND
PAYMENT OF CLAIMS FOR FRAUDULENT UNLICENSED ACTIVITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A residential mortgage loan applicant may make a claim on and receive payment from the mortgage grant fund for the recovery of the applicant's actual, out-of-pocket damages incurred because of fraud committed by an individual who acted as a residential mortgage loan originator but who did not hold the required license issued under Chapter 157 at the time the individual committed the fraudulent act.
(b) The eligibility and procedural requirements for a claim made under Section 156.504 and the statute of limitations under Section 156.503 apply to a residential mortgage loan applicant who makes a claim under this section.
(c) Payments made from the mortgage grant fund to a residential mortgage loan applicant under this section are subject to the limits provided by Section 156.505.
Notes and commentary — not statutory text
History
Added by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 7, eff. September 1, 2021.
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 a502dd0ff549f15c3322e6e72f71c33597410f17b0eea7352aeaaf738a485bcc
- 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 § 156.503STATUTE OF LIMITATIONS.Printed as Section 156.503
- Tex. Fin. Code § 156.504PROCEDURE FOR RECOVERY.Printed as Section 156.504
- Tex. Fin. Code § 156.505RECOVERY LIMITS.Printed as Section 156.505
- Tex. Fin. Code ch. 157MORTGAGE BANKERS AND RESIDENTIAL MORTGAGE LOAN ORIGINATORSPrinted as Chapter 157
Cited by 1 provision
Provisions in this library whose text cites Tex. Fin. Code § 156.555. 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.