reglab/housing_qa huggingface dataset:
TX Fin Code § 157.014 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter D. Licensing of Residential Mortgage Loan Originators; Disclosures and Requirements|Section 157.014. Issuance of Residential Mortgage Loan Originator License

Sec. 157.014.  ISSUANCE OF RESIDENTIAL MORTGAGE LOAN ORIGINATOR LICENSE.  (a)  The commissioner shall issue a residential mortgage loan originator license to an applicant if the commissioner determines that the applicant meets all requirements and conditions for the license.(b)  Each residential mortgage loan originator license must have a unique identifier as provided by Chapter 180.|Added by Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779), Sec. 8, eff. April 1, 2010.|
TX Fin Code § 157.0141 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter D. Licensing of Residential Mortgage Loan Originators; Disclosures and Requirements|Section 157.0141. Conditional License

Sec. 157.0141.  CONDITIONAL LICENSE.  The commissioner may issue a conditional license.  The finance commission by rule shall adopt reasonable terms and conditions for a conditional license.|Added by Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 63, eff. September 1, 2013.|
TX Fin Code § 157.016 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter D. Licensing of Residential Mortgage Loan Originators; Disclosures and Requirements|Section 157.016. Reinstatement After Expiration of License; Notice

Sec. 157.016.  REINSTATEMENT AFTER EXPIRATION OF LICENSE; NOTICE.  (a)  A person whose residential mortgage loan originator license has expired may not engage in activities that require a license until the license has been reinstated or a new license has been issued.(b)  A person whose residential mortgage loan originator license has not been renewed before January 1 but who is otherwise eligible to renew a license, and does so before March 1, may renew the license by paying the commissioner a reinstatement fee in an amount that is equal to 150 percent of the required renewal fee.(c)  A person whose residential mortgage loan originator license has not been renewed before March 1 may not renew the license.  The person may obtain a new license by complying with the requirements and procedures for obtaining an original license.(d)  Repealed by Acts 2011, 82nd Leg., R.S., Ch. 655, Sec. 65(a)(13), eff. September 1, 2011.|Added by Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779), Sec. 8, eff. April 1, 2010.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 53, eff. September 1, 2011.Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 65(a)(13), eff. September 1, 2011.Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 65, eff. September 1, 2013.|
TX Fin Code § 157.019 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter D. Licensing of Residential Mortgage Loan Originators; Disclosures and Requirements|Section 157.019. Modification of License; Change of Sponsorship

Sec. 157.019.  MODIFICATION OF LICENSE; CHANGE OF SPONSORSHIP.  (a)  Before the 10th day preceding the effective date of an address change, a residential mortgage loan originator shall notify the commissioner or authorized designee in writing of the new address.(b)  A person licensed under this chapter must notify the commissioner or the commissioner's authorized designee not later than the 10th day after the date of any change in the person's name for the issuance of an amended license.(c)  When the sponsorship of a residential mortgage loan originator is terminated, the residential mortgage loan originator or the former sponsoring entity licensed or registered under this chapter or Chapter 156 shall immediately notify the commissioner.  The residential mortgage loan originator's license then becomes inactive.  The residential mortgage loan originator license may be activated if, before the license expires, an entity licensed or registered under this chapter or Chapter 156 files a request, accompanied by a $25 fee, notifying the commissioner that the entity will sponsor the residential mortgage loan originator and will assume responsibility for the actions of the residential mortgage loan originator.(d)  A residential mortgage loan originator may not conduct business under any assumed name that is not the registered assumed name of the entity licensed or registered under this chapter or Chapter 156 that is sponsoring the originator.(e)  A fee under this section is not refundable and may not be credited or applied to any other fee or indebtedness owed by the person paying the fee.|Added by Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779), Sec. 8, eff. April 1, 2010.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 54, eff. September 1, 2011.Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 67, eff. September 1, 2013.Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 68, eff. September 1, 2013.|
TX Fin Code § 157.020 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter D. Licensing of Residential Mortgage Loan Originators; Disclosures and Requirements|Section 157.020. Mortgage Call Report

Sec. 157.020.  MORTGAGE CALL REPORT.  (a)  Each mortgage banker shall file a mortgage call report with the commissioner or the commissioner's authorized designee on a form prescribed by the commissioner or authorized designee.  The report must be filed as frequently as required by the Nationwide Mortgage Licensing System and Registry.  The report is a statement of condition of the mortgage banker and the mortgage banker's operations, including financial statements and production activity volumes, and any other similar information required by the Nationwide Mortgage Licensing System and Registry.(a-1)  A licensed residential mortgage loan originator, as required by the commissioner, shall file a mortgage call report with the commissioner or the commissioner's authorized designee on a form prescribed by the commissioner or authorized designee.  The report:(1)  is a statement of condition of the residential mortgage loan originator;(2)  must include any information required by the commissioner; and(3)  must be filed as frequently as required by the commissioner.(b)  The information contained in the mortgage call report related to residential mortgage loan origination volume or other trade information is confidential and may not be disclosed by the commissioner, the commissioner's authorized designee, or any other employee of the Department of Savings and Mortgage Lending.|Added by Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779), Sec. 8, eff. April 1, 2010.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 55, eff. September 1, 2011.Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 69, eff. September 1, 2013.|
TX Fin Code § 157.0201 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter D. Licensing of Residential Mortgage Loan Originators; Disclosures and Requirements|Section 157.0201. Recovery Fund

Sec. 157.0201.  RECOVERY FUND.  The recovery fund established, administered, and maintained under Section 13.016 and Subchapter F, Chapter 156, shall be used as provided by Subchapter F, Chapter 156, to reimburse residential mortgage loan applicants for actual damages incurred because of acts committed by residential mortgage loan originators licensed under this chapter when the act was committed.|Added by Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 56, eff. September 1, 2011.|
TX Fin Code § 157.02012 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter D. Licensing of Residential Mortgage Loan Originators; Disclosures and Requirements|Section 157.02012. Standard Forms

Sec. 157.02012.  STANDARD FORMS.  (a)  The finance commission by rule shall adopt one or more standard forms for use by a residential mortgage loan originator, sponsored by and conducting business for a registered mortgage banker under this chapter, in representing that an applicant for a residential mortgage loan is preapproved or has prequalified for the loan.(b)  The finance commission shall adopt rules requiring a residential mortgage loan originator licensed under this chapter to use the forms adopted by the finance commission under Subsection (a).|Added by Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 70, eff. September 1, 2013.|
TX Fin Code § 157.02013 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter D. Licensing of Residential Mortgage Loan Originators; Disclosures and Requirements|Section 157.02013. Secondary Market Transactions

Sec. 157.02013.  SECONDARY MARKET TRANSACTIONS.  This chapter does not prohibit a residential mortgage loan originator sponsored by and conducting business for a registered mortgage banker under this chapter from receiving compensation from a party other than the mortgage applicant for the sale, transfer, assignment, or release of rights on the closing of a mortgage transaction.|Added by Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 70, eff. September 1, 2013.|
TX Fin Code § 157.02014 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter D. Licensing of Residential Mortgage Loan Originators; Disclosures and Requirements|Section 157.02014. Affiliated Business Arrangements

Sec. 157.02014.  AFFILIATED BUSINESS ARRANGEMENTS.  Unless prohibited by federal or state law, this chapter may not be construed to prevent affiliated or controlled business arrangements or loan origination services by or between residential mortgage loan originators sponsored by and conducting business for a registered mortgage banker under this chapter and other professionals if the residential mortgage loan originator complies with all applicable federal and state laws permitting those arrangements or services.|Added by Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 70, eff. September 1, 2013.|
TX Fin Code § 157.02015 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter D. Licensing of Residential Mortgage Loan Originators; Disclosures and Requirements|Section 157.02015. Rulemaking Authority With Respect to Residential Mortgage Loan Originators

Sec. 157.02015.  RULEMAKING AUTHORITY WITH RESPECT TO RESIDENTIAL MORTGAGE LOAN ORIGINATORS.  (a)  The finance commission may adopt rules to prohibit false, misleading, or deceptive practices by residential mortgage loan originators but may not adopt any other rules restricting competitive bidding or advertising by residential mortgage loan originators.  When adopting rules under this subsection, the finance commission may not restrict:(1)  the use of any medium for an advertisement;(2)  the personal appearance of or voice of a person in an advertisement;(3)  the size or duration of an advertisement; or(4)  a residential mortgage loan originator's advertisement under a trade name.(b)  The finance commission may adopt rules regarding books and records that a residential mortgage loan originator licensed under this chapter is required to keep, including the location at which the books and records must be kept.(c)  The finance commission shall consult with the commissioner when proposing and adopting rules under this section.|Added by Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 70, eff. September 1, 2013.|
TX Fin Code § 157.02016 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter D. Licensing of Residential Mortgage Loan Originators; Disclosures and Requirements|Section 157.02016. Administration of Subchapter

Sec. 157.02016.  ADMINISTRATION OF SUBCHAPTER.  The commissioner shall administer and enforce this subchapter.|Added by Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 70, eff. September 1, 2013.|
TX Fin Code § 157.0211 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter E. Enforcement|Section 157.0211. Multi-State Examination Authority of Residential Mortgage Loan Servicer

Sec. 157.0211.  MULTI-STATE EXAMINATION AUTHORITY OF RESIDENTIAL MORTGAGE LOAN SERVICER.  To ensure that mortgage bankers that act as residential mortgage loan servicers operate in this state in compliance with this chapter and with other law in accordance with this chapter, the commissioner or the commissioner's designee may participate in multi-state mortgage examinations as scheduled by the Conference of State Bank Supervisors Multi-State Mortgage Committee or by the Consumer Financial Protection Bureau in accordance with the protocol for such examinations.|Added by Acts 2011, 82nd Leg., R.S., Ch. 588 (S.B. 17), Sec. 5, eff. September 1, 2011.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 73, eff. September 1, 2013.|
TX Fin Code § 157.022 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter E. Enforcement|Section 157.022. Issuance and Enforcement of Subpoena

Sec. 157.022.  ISSUANCE AND ENFORCEMENT OF SUBPOENA.  (a)  During an investigation, the commissioner may issue a subpoena that is addressed to a peace officer of this state or other person authorized by law to serve citation or perfect service.  The subpoena may require a person to give a deposition, produce documents, or both.(b)  If a person disobeys a subpoena or if a person appearing in a deposition in connection with the investigation refuses to testify, the commissioner may petition a district court in Travis County to issue an order requiring the person to obey the subpoena, testify, or produce documents relating to the matter.  The court shall promptly set an application to enforce a subpoena issued under Subsection (a) for hearing and shall cause notice of the application and the hearing to be served on the person to whom the subpoena is directed.|Added by Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779), Sec. 8, eff. April 1, 2010.|
TX Fin Code § 157.023 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter E. Enforcement|Section 157.023. Administrative Penalty

Sec. 157.023.  ADMINISTRATIVE PENALTY.  (a)  The commissioner, after notice and opportunity for a hearing, may impose an administrative penalty on an individual who is licensed or required to be licensed under this chapter as a residential mortgage loan originator and who violates this chapter, Chapter 156, or a rule or order adopted under this chapter or Chapter 156.(b)  The amount of the penalty may not exceed $25,000 for each violation.  The amount shall be based on:(1)  the seriousness of the violation, including the nature, circumstances, extent, and gravity of the violation;(2)  the economic harm to property caused by the violation;(3)  the history of previous violations;(4)  the amount necessary to deter a future violation;(5)  efforts to correct the violation; and(6)  any other matter that justice may require.(c)  The enforcement of the penalty may be stayed during the time the order is under judicial review if the person pays the penalty to the clerk of the court or files a supersedeas bond with the court in the amount of the penalty.  A person who cannot afford to pay the penalty or file the bond may stay the enforcement by filing an affidavit in the manner required by the Texas Rules of Civil Procedure for a party who cannot afford to file security for costs, subject to the right of the commissioner to contest the affidavit as provided by those rules.(d)  The attorney general may sue to collect the penalty.(e)  An appeal of an administrative penalty under this section is considered to be a contested case under Chapter 2001, Government Code.|Added by Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779), Sec. 8, eff. April 1, 2010.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 57, eff. September 1, 2011.Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 74, eff. September 1, 2013.|
TX Fin Code § 157.0241 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter E. Enforcement|Section 157.0241. Revocation or Suspension of License for Payment From Recovery Fund

Sec. 157.0241.  REVOCATION OR SUSPENSION OF LICENSE FOR PAYMENT FROM RECOVERY FUND.  (a)  The commissioner may revoke or suspend a license issued under this chapter on proof that the commissioner has made a payment from the recovery fund of any amount toward satisfaction of a claim against a residential mortgage loan originator licensed under this chapter.(b)  The commissioner may seek to collect from a residential mortgage loan originator the amount paid from the recovery fund on behalf of the residential mortgage loan originator and any costs associated with investigating and processing the claim against the recovery fund or with collection of reimbursement for payments from the recovery fund, plus interest at the current legal rate until the amount has been repaid in full.  Any amount, including interest, recovered by the commissioner shall be deposited to the credit of the recovery fund.(c)  The commissioner may probate an order revoking or suspending a license under this section.(d)  A person on whose behalf payment was made from the recovery fund is not eligible to receive a new license or have a suspension lifted under this chapter until the person has repaid in full, plus interest at the current legal rate, the amount paid from the recovery fund on the person's behalf and any costs associated with investigating and processing the claim against the recovery fund or with collection of reimbursement for payments from the recovery fund.(e)  This section does not limit the authority of the commissioner to take disciplinary action against a residential mortgage loan originator for a violation of this chapter, Chapter 156, or the rules adopted by the finance commission under this chapter or Chapter 156.  The repayment in full to the recovery fund of all obligations of a residential mortgage loan originator does not nullify or modify the effect of any other disciplinary proceeding brought under this chapter or Chapter 156.|Added by Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 59, eff. September 1, 2011.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 76, eff. September 1, 2013.|
TX Fin Code § 157.025 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter E. Enforcement|Section 157.025. Restitution

Sec. 157.025.  RESTITUTION.  The commissioner may order a residential mortgage loan originator to make restitution for any amount received by that person in violation of this chapter or Chapter 156.|Added by Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779), Sec. 8, eff. April 1, 2010.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 77, eff. September 1, 2013.|
TX Fin Code § 157.026 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter E. Enforcement|Section 157.026. Hearings and Judicial Review

Sec. 157.026.  HEARINGS AND JUDICIAL REVIEW.  (a)  The commissioner may employ an enforcement staff to investigate and prosecute complaints made against residential mortgage loan originators licensed under this chapter.  The commissioner may employ an administrative law judge to conduct hearings under this section.  The commissioner may collect and deposit any court costs assessed under a final order.(b)  If the commissioner proposes to suspend or revoke a license of a residential mortgage loan originator or if the commissioner refuses to issue or renew a residential mortgage loan originator license under this chapter, the applicant or license holder is entitled to a hearing before the commissioner or an administrative law judge who shall make a proposal for decision to the commissioner.  The commissioner or administrative law judge shall prescribe the time and place of the hearing.  The hearing is governed by Chapter 2001, Government Code.(c)  The commissioner or administrative law judge may issue subpoenas for the attendance of witnesses and the production of records or documents.  Process issued by the commissioner or the administrative law judge may extend to all parts of the state and may be served by any person designated by the commissioner or administrative law judge.(d)  An individual aggrieved by a ruling, order, or decision of the commissioner has the right to appeal to a district court in the county in which the hearing was held.  An appeal under this subsection is governed by Chapter 2001, Government Code.(e)  The commissioner may, in the commissioner's discretion, rescind or vacate any previously issued revocation order.|Added by Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779), Sec. 8, eff. April 1, 2010.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 78, eff. September 1, 2013.|
TX Fin Code § 157.027 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators|Subchapter E. Enforcement|Section 157.027. Civil Actions and Injunctive Relief

Sec. 157.027.  CIVIL ACTIONS AND INJUNCTIVE RELIEF.  (a)  A residential mortgage loan applicant injured by a violation of this chapter or Chapter 156 by a residential mortgage loan originator may bring an action for recovery of actual monetary damages and reasonable attorney's fees and court costs.(b)  The commissioner, the attorney general, or a residential mortgage loan applicant may bring an action to enjoin a violation of this chapter by a residential mortgage loan originator.(c)  A remedy provided by this section is in addition to any other remedy provided by law.|Added by Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779), Sec. 8, eff. April 1, 2010.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 79, eff. September 1, 2013.|