reglab/housing_qa huggingface dataset:
TX Fin Code § 159.252 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 159 - Wrap Mortgage Loan Financing|Subchapter F. Enforcement of Certain Registration Requirements|Section 159.252. Inspection; Investigation

Sec. 159.252.  INSPECTION; INVESTIGATION.  (a)  The commissioner may conduct an inspection of a wrap lender registered under Chapter 158 as the commissioner determines necessary to determine whether the wrap lender is complying with that chapter and applicable rules.  The inspection may include an inspection of the books, records, documents, operations, and facilities of the wrap lender.  The commissioner may share evidence of criminal activity gathered during an inspection or investigation with any state or federal law enforcement agency.(b)  For reasonable cause, the commissioner at any time may investigate a wrap lender registered under Chapter 158 to determine whether the lender is complying with that chapter and applicable rules.(c)  The commissioner may conduct an undercover or covert investigation only if the commissioner, after due consideration of the circumstances, determines that the investigation is necessary to prevent immediate harm and to carry out the purposes of Chapter 158.(d)  The finance commission by rule shall provide guidelines to govern an inspection or investigation under this section, including rules to:(1)  determine the information and records of the wrap lender to which the commissioner may demand access during an inspection or investigation; and(2)  establish what constitutes reasonable cause for an investigation.(e)  Information obtained by the commissioner during an inspection or investigation under this section is confidential unless disclosure of the information is permitted or required by other law.(f)  The commissioner may share information gathered during an investigation under this section with a state or federal agency.  The commissioner may share information gathered during an inspection with a state or federal agency only if the commissioner determines there is a valid reason for the sharing.(g)  The commissioner may require reimbursement of expenses for each examiner for an on-site examination or inspection of a registered wrap lender under this section if records are located out of state and are not made available for examination or inspection by the examiner in this state.  The finance commission by rule shall set the maximum amount for the reimbursement of expenses authorized under this subsection.|Added by Acts 2021, 87th Leg., R.S., Ch. 76 (S.B. 43), Sec. 3, eff. January 1, 2022.|
TX Fin Code § 159.253 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 159 - Wrap Mortgage Loan Financing|Subchapter F. Enforcement of Certain Registration Requirements|Section 159.253. Issuance and Enforcement of Subpoena

Sec. 159.253.  ISSUANCE AND ENFORCEMENT OF SUBPOENA.  (a)  During an investigation conducted under this subchapter, 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 2021, 87th Leg., R.S., Ch. 76 (S.B. 43), Sec. 3, eff. January 1, 2022.|
TX Fin Code § 159.301 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 159 - Wrap Mortgage Loan Financing|Subchapter G. Enforcement of Chapter|Section 159.301. Cease and Desist Order

Sec. 159.301.  CEASE AND DESIST ORDER.  (a)  The commissioner, if the commissioner has reasonable cause to believe that a wrap lender or wrap mortgage loan originator to whom this chapter applies has violated or is about to violate this chapter, may issue without notice and hearing an order to cease and desist from continuing a particular action or an order to take affirmative action, or both, to enforce compliance with this chapter.(b)  An order issued under Subsection (a) must contain a reasonably detailed statement of the facts on which the order is made.  If a person against whom the order is made requests a hearing, the commissioner shall set and give notice of a hearing before the commissioner or a hearings officer.  The hearing shall be governed by Chapter 2001, Government Code.  Based on the findings of fact, conclusions of law, and recommendations of the hearings officer, the commissioner by order may find a violation has occurred or not occurred.(c)  If a hearing is not requested under Subsection (b) on or before the 30th day after the date on which an order is made, the order is considered final and not appealable.(d)  The commissioner, after giving notice and an opportunity for hearing, may impose against a person who violates a cease and desist order an administrative penalty in an amount not to exceed $1,000 for each day of the violation.  In addition to any other remedy provided by law, the commissioner may institute in district court a suit for injunctive relief and to collect the administrative penalty.  A bond is not required of the commissioner with respect to injunctive relief granted under this subsection.|Added by Acts 2021, 87th Leg., R.S., Ch. 76 (S.B. 43), Sec. 3, eff. January 1, 2022.|
TX Fin Code § 180.001 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 180 - Residential Mortgage Loan Originators|Subchapter A. General Provisions|Section 180.001. Short Title

Sec. 180.001.  SHORT TITLE.  This chapter may be cited as the Texas Secure and Fair Enforcement for Mortgage Licensing Act of 2009.|Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 1, eff. June 19, 2009.|
TX Fin Code § 180.004 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 180 - Residential Mortgage Loan Originators|Subchapter A. General Provisions|Section 180.004. Administrative Authority; Rulemaking

Sec. 180.004.  ADMINISTRATIVE AUTHORITY; RULEMAKING.  (a)  A regulatory official has broad authority to administer, interpret, and enforce this chapter.(b)  The finance commission may implement rules necessary to comply with this chapter and 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).(c)  This chapter does not limit the authority of a regulatory official to take disciplinary action against a license holder for a violation of this chapter or the rules adopted by the regulatory official under this chapter.  A regulatory official has broad authority to investigate, revoke a license, and inform the proper authority when fraudulent conduct or a violation of this chapter occurs.|Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 1, eff. June 19, 2009.|
TX Fin Code § 180.005 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 180 - Residential Mortgage Loan Originators|Subchapter A. General Provisions|Section 180.005. Severability

Sec. 180.005.  SEVERABILITY.  The provisions of this chapter or applications of those provisions are severable as provided by Section 311.032(c), Government Code.|Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 1, eff. June 19, 2009.|
TX Fin Code § 180.051 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 180 - Residential Mortgage Loan Originators|Subchapter B. Licensing and Registration Requirements|Section 180.051. State License Required; Renewal

Sec. 180.051.  STATE LICENSE REQUIRED; RENEWAL.  (a)  Unless exempted by Section 180.003 or acting under the temporary authority described under Section 180.0511, an individual may not engage in business as a residential mortgage loan originator with respect to a dwelling located in this state unless the individual:(1)  is licensed to engage in that business under Chapter 156, 157, 342, 347, 348, or 351; and(2)  complies with the requirements of this chapter.(b)  Unless exempted by Section 180.003, a loan processor or underwriter who is an independent contractor may not engage in the activities of a loan processor or underwriter unless the independent contractor loan processor or underwriter obtains and maintains the appropriate residential mortgage loan originator license and complies with the requirements of this chapter.(c)  The individual must renew the license annually to be considered licensed for purposes of this section.(d)  Notwithstanding any provision of law listed in Subsection (a)(1), the regulatory official shall provide for annual renewal of licenses for individuals seeking to engage in residential mortgage loan origination activities.|Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 1, eff. June 19, 2009.Amended by: Acts 2019, 86th Leg., R.S., Ch. 695 (S.B. 2330), Sec. 2, eff. November 24, 2019.|
TX Fin Code § 180.052 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 180 - Residential Mortgage Loan Originators|Subchapter B. Licensing and Registration Requirements|Section 180.052. Enrollment or Registration With Nationwide Mortgage Licensing System and Registry

Sec. 180.052.  ENROLLMENT OR REGISTRATION WITH NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY.  (a)  A licensed residential mortgage loan originator must enroll with and maintain a valid unique identifier issued by the Nationwide Mortgage Licensing System and Registry.(b)  A non-federally insured credit union that employs loan originators, as defined by the S.A.F.E. Mortgage Licensing Act, shall register those employees with the Nationwide Mortgage Licensing System and Registry by furnishing the information relating to the employees' identity set forth in Section 1507(a)(2) of the S.A.F.E. Mortgage Licensing Act.(c)  Each independent contractor loan processor or underwriter licensed as a residential mortgage loan originator must have and maintain a valid unique identifier issued by the Nationwide Mortgage Licensing System and Registry.(d)  The regulatory official who administers the law under which a residential mortgage loan originator is licensed shall require the residential mortgage loan originator to be enrolled with the Nationwide Mortgage Licensing System and Registry.(e)  For purposes of implementing Subsection (d), the regulatory official may participate in the Nationwide Mortgage Licensing System and Registry.|Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 1, eff. June 19, 2009.|
TX Fin Code § 180.053 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 180 - Residential Mortgage Loan Originators|Subchapter B. Licensing and Registration Requirements|Section 180.053. Application Form

Sec. 180.053.  APPLICATION FORM.  (a)  A regulatory official shall prescribe application forms for a license as a residential mortgage loan originator.(b)  A regulatory official may change or update an application form as necessary to carry out the purposes of this chapter.|Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 1, eff. June 19, 2009.|
TX Fin Code § 180.054 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 180 - Residential Mortgage Loan Originators|Subchapter B. Licensing and Registration Requirements|Section 180.054. Criminal and Other Background Checks

Sec. 180.054.  CRIMINAL AND OTHER BACKGROUND CHECKS.  (a)  In connection with an application for a license as a residential mortgage loan originator, the applicant shall, at a minimum, furnish in the form and manner prescribed by the regulatory official and acceptable to the Nationwide Mortgage Licensing System and Registry information concerning the applicant's identity, including:(1)  fingerprints for submission to the Federal Bureau of Investigation and any governmental agency or entity authorized to receive the information to conduct a state, national, and international criminal background check; and(2)  personal history and experience information in a form prescribed by the Nationwide Mortgage Licensing System and Registry, including the submission of authorization for the Nationwide Mortgage Licensing System and Registry and the appropriate regulatory official to obtain:(A)  an independent credit report obtained from a consumer reporting agency described by Section 603(p), Fair Credit Reporting Act (15 U.S.C. Section 1681a(p)); and(B)  information related to any administrative, civil, or criminal findings by a governmental jurisdiction.(b)  For purposes of this section and to reduce the points of contact that the Federal Bureau of Investigation may have to maintain for purposes of Subsection (a)(1), a regulatory official may use the Nationwide Mortgage Licensing System and Registry as a channeling agent for requesting information from and distributing information to the United States Department of Justice, any governmental agency, or any source at the regulatory official's direction.(c)  For purposes of this section and to reduce the points of contact that a regulatory official may have to maintain for purposes of Subsection (a) or (b), the regulatory official may use the Nationwide Mortgage Licensing System and Registry as a channeling agent for requesting information from and distributing information to and from any source as directed by the regulatory official.|Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 1, eff. June 19, 2009.|
TX Fin Code § 180.055 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 180 - Residential Mortgage Loan Originators|Subchapter B. Licensing and Registration Requirements|Section 180.055. Issuance of License

Sec. 180.055.  ISSUANCE OF LICENSE.  (a)  The regulatory official may not issue a residential mortgage loan originator license to an individual unless the regulatory official determines, at a minimum, that the applicant:(1)  has not had a residential mortgage loan originator license revoked in any governmental jurisdiction;(2)  has not been convicted of, or pled guilty or nolo contendere to, a felony in a domestic, foreign, or military court:(A)  during the seven-year period preceding the date of application; or(B)  at any time preceding the date of application, if the felony involved an act of fraud, dishonesty, breach of trust, or money laundering;(3)  demonstrates financial responsibility, character, and general fitness so as to command the confidence of the community and to warrant a determination that the individual will operate honestly, fairly, and efficiently as a residential mortgage loan originator within the purposes of this chapter and any other appropriate regulatory law of this state;(4)  provides satisfactory evidence that the applicant has completed prelicensing education courses described by Section 180.056;(5)  provides satisfactory evidence of having passed a written test that meets the requirements of Section 180.057; and(6)  has paid a recovery fund fee or obtained a surety bond as required under the appropriate state regulatory law.(b)  A revocation that has been formally vacated may not be considered a license revocation for purposes of Subsection (a)(1).(c)  A conviction for which a full pardon has been granted may not be considered a conviction for purposes of Subsection (a)(2).(d)  For purposes of Subsection (a)(3), an individual is considered not to be financially responsible if the individual has shown a lack of regard in managing the individual's own financial affairs or condition.  A determination that an individual has not shown financial responsibility may not be based on the individual's default on a student loan but may include:(1)  an outstanding judgment against the individual, other than a judgment imposed solely as a result of medical expenses;(2)  an outstanding tax lien or other governmental liens and filings;(3)  a foreclosure during the three-year period preceding the date of the license application; and(4)  a pattern of seriously delinquent accounts, other than student loan accounts, during the three-year period preceding the date of the application.|Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 1, eff. June 19, 2009.Amended by: Acts 2019, 86th Leg., R.S., Ch. 506 (S.B. 37), Sec. 5, eff. June 7, 2019.|
TX Fin Code § 180.056 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 180 - Residential Mortgage Loan Originators|Subchapter B. Licensing and Registration Requirements|Section 180.056. Prelicensing Educational Courses

Sec. 180.056.  PRELICENSING EDUCATIONAL COURSES.  (a)  An applicant for a residential mortgage loan originator license must complete education courses that include at least the minimum number of hours and type of courses required by the S.A.F.E. Mortgage Licensing Act and the minimum number of hours of training related to lending standards for the nontraditional mortgage product marketplace required by that Act and any additional requirements established by the regulatory official and adopted by rule of the rulemaking authority.(b)  Education courses required under this section must be reviewed and approved by the Nationwide Mortgage Licensing System and Registry in accordance with the S.A.F.E. Mortgage Licensing Act.(c)  Nothing in this section precludes any education course approved in accordance with the S.A.F.E. Mortgage Licensing Act from being provided by:(1)  an applicant's employer;(2)  an entity affiliated with the applicant by an agency contract; or(3)  a subsidiary or affiliate of the employer or entity.(d)  Education courses required under this section may be offered in a classroom, online, or by any other means approved by the Nationwide Mortgage Licensing System and Registry.(e)  An individual who has successfully completed prelicensing education requirements approved by the Nationwide Mortgage Licensing System and Registry for another state shall be given credit toward completion of the prelicensing education requirements of this section.(f)  An applicant who has previously held a residential mortgage loan originator license that meets the requirements of this chapter and other appropriate regulatory law, before being issued a new original license, must demonstrate to the appropriate regulatory official that the applicant has completed all continuing education requirements for the calendar year in which the license was last held by the applicant.(g)  If the appropriate federal regulators and the Nationwide Mortgage Licensing System and Registry establish additional educational requirements for licensed residential mortgage loan originators, the rulemaking authority shall adopt necessary rules to implement the changes to the educational requirements of this section.(h)  An individual who fails to maintain a residential mortgage loan originator license for the period of time established by rule of the rulemaking authority must retake the prelicensing education requirements prescribed by the S.A.F.E. Mortgage Licensing Act.|Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 1, eff. June 19, 2009.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 62, eff. September 1, 2011.Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 85, eff. September 1, 2013.Acts 2017, 85th Leg., R.S., Ch. 704 (H.B. 3342), Sec. 1, eff. January 1, 2018.|
TX Fin Code § 180.057 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 180 - Residential Mortgage Loan Originators|Subchapter B. Licensing and Registration Requirements|Section 180.057. Testing Requirements

Sec. 180.057.  TESTING REQUIREMENTS.  (a)  An applicant for a residential mortgage loan originator license must pass a qualified, written test that:(1)  meets the standards and requirements established by the S.A.F.E. Mortgage Licensing Act;(2) is developed by the Nationwide Mortgage Licensing System and Registry; and(3)  is administered by a test provider in accordance with the S.A.F.E. Mortgage Licensing Act.(b)  An individual may retake the test the number of times and within the period prescribed by the S.A.F.E. Mortgage Licensing Act.(c)  An individual who fails to maintain a residential mortgage loan originator license for at least five consecutive years must retake the test.(d)  This section does not prohibit a test provider approved in accordance with the S.A.F.E. Mortgage Licensing Act from providing a test at the location of:(1)  the license applicant's employer;(2)  a subsidiary or affiliate of the applicant's employer; or(3)  an entity with which the applicant holds an exclusive arrangement to conduct the business of a residential mortgage loan originator.|Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 1, eff. June 19, 2009.|
TX Fin Code § 180.058 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 180 - Residential Mortgage Loan Originators|Subchapter B. Licensing and Registration Requirements|Section 180.058. Recovery Fund Fee or Surety Bond Requirement

Sec. 180.058.  RECOVERY FUND FEE OR SURETY BOND REQUIREMENT.  (a)  A regulatory official may not issue a residential mortgage loan originator license unless the official determines that the applicant meets the surety bond requirement or has paid a recovery fund fee, as applicable, in accordance with the requirements of the S.A.F.E. Mortgage Licensing Act.(b)  Each regulatory official shall adopt rules requiring an individual licensed as a residential mortgage loan originator to obtain a surety bond or pay a recovery fund fee as the official determines appropriate to comply with the S.A.F.E. Mortgage Licensing Act.|Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 1, eff. June 19, 2009.|
TX Fin Code § 180.059 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 180 - Residential Mortgage Loan Originators|Subchapter B. Licensing and Registration Requirements|Section 180.059. Standards for License Renewal

Sec. 180.059.  STANDARDS FOR LICENSE RENEWAL.  A license to act as a residential mortgage loan originator may be renewed on or before its expiration date if the license holder:(1)  continues to meet the minimum requirements for license issuance;(2)  pays all required fees for the renewal of the license; and(3)  provides satisfactory evidence that the license holder has completed the continuing education requirements of Section 180.060.|Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 1, eff. June 19, 2009.|