Tex. Fin. Code § 347.102 · Subchapter C. FINANCE CHARGE RATES AND ADJUSTMENTS
REQUIREMENTS FOR RATE ADJUSTMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The interest rate or time price differential in a credit transaction may be adjusted at stated regular intervals if the credit document expressly:
(1) provides for the adjustment; and
(2) states the index described by Subsection (b) that is being used for the adjustment.
(b) The index must be:
(1) the monthly average gross yield to the Federal National Mortgage Association on accepted bids in weekly or biweekly auctions for four-month commitments to purchase FHA-insured or VA-guaranteed home mortgages, as published in the Federal Reserve Bulletin;
(2) the monthly average yield on United States Treasury securities adjusted to a constant maturity of five years as published in the Federal Reserve Bulletin; or
(3) an index expressly approved by the Office of Thrift Supervision or by the Office of the Comptroller of the Currency, Department of the Treasury, for adjustable or variable interest rates on residential mortgage loans.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.347.htm
- Text hash
- sha256 96c3efe9cd76e22d9df30d89e50ecadb73b4538e583269bb41711369bfac4aff
- 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.