Tex. Fin. Code § 159.202 · Subchapter E. WRAP BORROWER'S RIGHTS
WRAP BORROWER'S RIGHT TO DEDUCT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
The wrap borrower, without taking judicial action, may deduct from any amount owed to the wrap lender under the terms of the wrap mortgage loan:
(1) the amount of any payment made by the wrap borrower to an obligee of a debt described by Section 159.001(7)(A)(ii) to cure a default by the wrap lender caused by the lender's failure to make payments for which the lender is responsible under the terms of the wrap mortgage loan; or
(2) any other amount for which the wrap lender is liable to the wrap borrower under the terms of the wrap mortgage loan.
Notes and commentary — not statutory text
History
Added by Acts 2021, 87th Leg., R.S., Ch. 76 (S.B. 43), Sec. 3, eff. January 1, 2022.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.159.htm
- Text hash
- sha256 c7684b9e03709baec8d066706a59c553bc37fb5ed092ce6437b1a9e0b2871fd2
- 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
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