Tex. Fin. Code § 351.0515 · Subchapter B. AUTHORIZED ACTIVITIES; LICENSE
RESIDENTIAL MORTGAGE LOAN ORIGINATOR LICENSE REQUIRED.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, "Nationwide Mortgage Licensing System and Registry" and "residential mortgage loan originator" have the meanings assigned by Section 180.002.
(b) Unless exempt under Section 180.003, or acting under the temporary authority described under Section 180.0511, an individual who acts as a residential mortgage loan originator in the making, transacting, or negotiating of a property tax loan for a principal dwelling must:
(1) be individually licensed to engage in that activity under this chapter;
(2) be enrolled with the Nationwide Mortgage Licensing System and Registry as required by Section 180.052; and
(3) comply with other applicable requirements of Chapter 180 and rules adopted under that chapter.
(c) Subject to Section 14.112, the finance commission shall adopt rules establishing procedures for issuing, renewing, and enforcing an individual license under this section. In adopting rules under this subsection, the finance commission shall ensure that:
(1) the minimum eligibility requirements for issuance of an individual license are the same as the requirements of Section 180.055;
(2) the minimum eligibility requirements for renewal of an individual license are the same as the requirements of Section 180.059; and
(3) the applicant pays:
(A) an investigation fee in a reasonable amount determined by the commissioner; and
(B) a license fee in an amount determined as provided by Section 14.107.
(d) The finance commission may adopt rules under this chapter as required to carry out the intentions of the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (Pub. L. No. 110-289).
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 17, eff. June 19, 2009.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 695 (S.B. 2330), Sec. 7, eff. November 24, 2019.
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 43, eff. September 1, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.351.htm
- Text hash
- sha256 9dd2e9e87401efb61c695cb83fdcb4adab2988dce646b1017e1f4ea8161026a5
- 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 § 14.107FEES.Printed as Section 14.107
- Tex. Fin. Code § 14.112LICENSING AND REGISTRATION TERMS.Printed as Section 14.112
- Tex. Fin. Code ch. 180RESIDENTIAL MORTGAGE LOAN ORIGINATORSPrinted as Chapter 180
- Tex. Fin. Code § 180.002DEFINITIONS.Printed as Section 180.002
- Tex. Fin. Code § 180.003EXEMPTION.Printed as Section 180.003
- Tex. Fin. Code § 180.0511TEMPORARY AUTHORITY TO ORIGINATE LOANS.Printed as Section 180.0511
- Tex. Fin. Code § 180.052ENROLLMENT OR REGISTRATION WITH NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY.Printed as Section 180.052
- Tex. Fin. Code § 180.055ISSUANCE OF LICENSE.Printed as Section 180.055
- Tex. Fin. Code § 180.059STANDARDS FOR LICENSE RENEWAL.Printed as Section 180.059
Cited by 1 provision
Provisions in this library whose text cites Tex. Fin. Code § 351.0515. Each shows the citation as that text prints it.
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