Tex. Fin. Code § 343.204 · Subchapter C. HIGH-COST HOME LOANS
CONSIDERATION OF OBLIGOR'S PAYMENT ABILITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, "obligor" means a person obligated to pay a loan, including a borrower, cosigner, or guarantor. If more than one person is obligated to pay a loan, the term refers to those persons collectively.
(b) A lender may not engage in a pattern or practice of extending credit to consumers under high-cost home loans based on the consumers' collateral without regard to the obligor's repayment ability, including the obligor's current and expected income, current obligations, employment status, and other financial resources, other than the obligor's equity in the dwelling that secures repayment of the loan.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 622, Sec. 1, eff. Sept. 1, 2001.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.343.htm
- Text hash
- sha256 687e38c0fc94a76f5fdd9581320fc63ba58beecfc8adc969a2e69ee4d8aee5e2
- 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
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.