Tex. Gov't Code § 2306.229 · Subchapter J. HOUSING FINANCE DIVISION: LOAN TERMS AND CONDITIONS
DOCUMENTS SUPPORTING MORTGAGE LOANS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A mortgage loan shall be evidenced by a mortgage or deed of trust note or bond and by a mortgage that creates a lien on the housing development and on all real property that constitutes the site of or that relates to the housing development.
(b) A note or bond and a mortgage or deed of trust:
(1) must contain provisions satisfactory to the department;
(2) must be in a form satisfactory to the department; and
(3) may contain exculpatory provisions relieving the borrower or its principal from personal liability if the department agrees.
(c) For each loan made for the development of multifamily housing with funds provided to the state under the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. Section 12701 et seq.), the department shall obtain a mortgagee's title policy in the amount of the loan. The department may not designate a specific title insurance company to provide the mortgagee title policy or require the borrower to provide the policy from a specific title insurance company. The borrower shall select the title insurance company to close the loan and to provide the mortgagee title policy.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1341 (S.B. 1908), Sec. 24, eff. September 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2306.htm
- Text hash
- sha256 445224def73efc865e56c18416a79273633eed30a01d4d7a83a73dfb325df45a
- 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
Cited by 1 provision
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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.