reglab/housing_qa huggingface dataset:
TX Fin Code § 156.401 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter E. Hearings; Judicial Review; Civil Actions; Unlicensed Activity|Section 156.401. Hearings and Judicial Review

Sec. 156.401.  HEARINGS AND JUDICIAL REVIEW.  (a)  The commissioner may employ an enforcement staff to investigate and prosecute complaints made against persons licensed under this chapter.  The commissioner may employ a hearings officer to conduct hearings under this section.  The commissioner may collect and deposit any court costs collected pursuant to a final order.(b)  If the commissioner proposes to suspend or revoke a license issued under this chapter or if the commissioner refuses to issue or renew a license to an applicant for a license or person requesting a renewal of a license under this chapter, the applicant or license holder is entitled to a hearing before the commissioner or a hearings officer who shall make a proposal for decision to the commissioner.  The commissioner or hearings officer shall prescribe the time and place of the hearing.  The hearing is governed by Chapter 2001, Government Code.(c)  The commissioner or hearings officer may issue subpoenas for the attendance of witnesses and the production of records or documents.  Process issued by the commissioner or hearings officer may extend to all parts of the state and may be served by any person designated by the commissioner or hearings officer.(d)  A person 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 1999, 76th Leg., ch. 1254, Sec. 2, eff. Sept. 1, 1999.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 18, eff. September 1, 2009.Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 35, eff. September 1, 2011.Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 37, eff. September 1, 2013.|
TX Fin Code § 156.402 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter E. Hearings; Judicial Review; Civil Actions; Unlicensed Activity|Section 156.402. Civil Actions and Injunctive Relief

Sec. 156.402.  CIVIL ACTIONS AND INJUNCTIVE RELIEF.  (a)  A mortgage applicant injured by a violation of this chapter 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 mortgage applicant may bring an action to enjoin a violation of this chapter.(c)  A remedy provided by this section is in addition to any other remedy provided by law.|Added by Acts 1999, 76th Leg., ch. 1254, Sec. 2, eff. Sept. 1, 1999.|
TX Fin Code § 156.403 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter E. Hearings; Judicial Review; Civil Actions; Unlicensed Activity|Section 156.403. Burden of Proof to Establish an Exemption

Sec. 156.403.  BURDEN OF PROOF TO ESTABLISH AN EXEMPTION.  The burden of proving an exemption in a proceeding or action brought under this chapter is on the person claiming the benefit of the exemption.|Added by Acts 1999, 76th Leg., ch. 1254, Sec. 2, eff. Sept. 1, 1999.|
TX Fin Code § 156.404 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter E. Hearings; Judicial Review; Civil Actions; Unlicensed Activity|Section 156.404. Reliance on Written Notices From Commissioner

Sec. 156.404.  RELIANCE ON WRITTEN NOTICES FROM COMMISSIONER.  A person does not violate this chapter with respect to an action taken or omission made in reliance on a written notice, written interpretation, or written report from the commissioner, unless a subsequent amendment to this chapter or a rule adopted under this chapter affects the commissioner's notice, interpretation, or report.|Added by Acts 1999, 76th Leg., ch. 1254, Sec. 2, eff. Sept. 1, 1999.|
TX Fin Code § 156.502 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter F. Recovery Fund|Section 156.502. Funding

Text of section as amended by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 6Sec. 156.502.  FUNDING.  (a)  On an application for an original license issued under Chapter 157, the applicant, in addition to paying the original application fee, shall pay a fee in the amount of $20.  The fee shall be deposited in the recovery fund.(a-1)  All or any portion of the amount of a penalty that is collected by the commissioner under Sections 156.302, 156.303, 157.023, 157.024, 157.031, 158.105, and 180.202, as determined by the commissioner, may be deposited to the credit of the recovery fund at the end of each fiscal year. Without reference to the amendment of this subsection, this subsection was repealed by Acts 2021, 87th Leg., R.S., Ch. 963 (S.B. 1900), Sec. 7(3), eff. September 1, 2021. (b)  If the balance remaining in the recovery fund at the end of a calendar year is more than $3.5 million, the amount of money in excess of that amount shall be remitted by the commissioner to the comptroller for deposit in the mortgage grant fund established under Subchapter G.|Added by Acts 1999, 76th Leg., ch. 1254, Sec. 2, eff. Sept. 1, 1999.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 20, eff. September 1, 2009.Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 21, eff. September 1, 2009.Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 29, eff. September 1, 2009.Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 39, eff. September 1, 2011.Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 41, eff. September 1, 2013.Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 6, eff. September 1, 2021.Acts 2021, 87th Leg., R.S., Ch. 963 (S.B. 1900), Sec. 7(3), eff. September 1, 2021.|
TX Fin Code § 156.503 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter F. Recovery Fund|Section 156.503. Statute of Limitations

Sec. 156.503.  STATUTE OF LIMITATIONS.  (a)  An application for the recovery of actual damages from the recovery fund under Section 156.504 may not be filed after the fourth anniversary of the date of the alleged act or omission causing the actual damages or the date the act or omission should reasonably have been discovered.(b)  This section does not apply to a subrogation claim brought by the commissioner for recovery of money paid out of the recovery fund.|Added by Acts 1999, 76th Leg., ch. 1254, Sec. 2, eff. Sept. 1, 1999.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 22, eff. September 1, 2009.Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 40, eff. September 1, 2011.Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 42, eff. September 1, 2013.|
TX Fin Code § 156.505 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter F. Recovery Fund|Section 156.505. Recovery Limits

Sec. 156.505.  RECOVERY LIMITS.  (a)  A person entitled to receive payment out of the recovery fund is entitled to receive reimbursement of actual, out-of-pocket damages as provided by this section.(b)  A payment from the recovery fund may be made as provided by Section 156.504 and this section.  A payment for claims:(1)  arising out of the same transaction, including interest, is limited in the aggregate to $25,000, regardless of the number of claimants; and(2)  against a single person licensed as a residential mortgage loan originator under Chapter 157 arising out of separate transactions, including interest, is limited in the aggregate to $50,000 until the fund has been reimbursed for all amounts paid.(c)  In the event there are concurrent claims under Subsections (b)(1) and (2) that exceed the amounts available under the recovery fund, the commissioner shall prorate recovery based on the amount of damage suffered by each claimant.|Added by Acts 1999, 76th Leg., ch. 1254, Sec. 2, eff. Sept. 1, 1999.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 24, eff. September 1, 2009.Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 42, eff. September 1, 2011.Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 44, eff. September 1, 2013.|
TX Fin Code § 156.506 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter F. Recovery Fund|Section 156.506. Revocation or Suspension of License for Payment From Recovery Fund

Sec. 156.506.  REVOCATION OR SUSPENSION OF LICENSE FOR PAYMENT FROM RECOVERY FUND.  (a)  The commissioner may revoke or suspend a license issued under Chapter 157 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 under Chapter 157.(a-1)  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 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 fund.(b)  The commissioner may probate an order revoking or suspending a license under this section.(c)  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 or Chapter 157 until the person has repaid in full, plus interest at the current legal rate, the amount paid from the fund on the person's behalf and any costs associated with investigating and processing the claim against the fund or with collection of reimbursement for payments from the fund.(d)  This section does not limit the authority of the commissioner to take disciplinary action against a residential mortgage loan originator for a violation of Chapter 157 or the rules adopted by the finance commission under that chapter.  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 Chapter 157.|Added by Acts 1999, 76th Leg., ch. 1254, Sec. 2, eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 93, eff. Sept. 1, 2001.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 25, eff. September 1, 2009.Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 43, eff. September 1, 2011.Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 45, eff. September 1, 2013.|
TX Fin Code § 156.507 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter F. Recovery Fund|Section 156.507. Subrogation

Sec. 156.507.  SUBROGATION.  When the commissioner has paid an applicant an amount from the recovery fund under Section 156.504, the commissioner is subrogated to all of the rights of the applicant to the extent of the amount paid.  The applicant shall assign all of the applicant's right, title, and interest in any subsequent judgment against the license holder, up to the amount paid by the commissioner.  Any amount, including interest, recovered by the commissioner on the assignment shall be deposited to the credit of the fund.|Added by Acts 1999, 76th Leg., ch. 1254, Sec. 2, eff. Sept. 1, 1999.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 26, eff. September 1, 2009.Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 44, eff. September 1, 2011.|
TX Fin Code § 156.508 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter F. Recovery Fund|Section 156.508. Failure to Comply With Subchapter or Rule Adopted by the Finance Commission

Sec. 156.508.  FAILURE TO COMPLY WITH SUBCHAPTER OR RULE ADOPTED BY THE FINANCE COMMISSION.  The failure of an applicant under Section 156.504 to comply with a provision of this subchapter relating to the recovery fund or with a rule adopted by the finance commission relating to the fund constitutes a waiver of any rights under this subchapter.|Added by Acts 1999, 76th Leg., ch. 1254, Sec. 2, eff. Sept. 1, 1999.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 27, eff. September 1, 2009.Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 44, eff. September 1, 2011.|
TX Fin Code § 156.551 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter G. Mortgage Grant Fund|Section 156.551. Mortgage Grant Fund

Sec. 156.551.  MORTGAGE GRANT FUND.  (a)  The commissioner shall establish, administer, and maintain a mortgage grant fund as provided by this subchapter. The amounts received by the commissioner for deposit in the fund shall be held by the commissioner in trust for carrying out the purposes of the fund.(b)  Subject to Subsection (c), all or any portion of the amount of a penalty that is collected by the commissioner under Sections 156.302, 156.303, 157.023, 157.024, 157.031, 158.105, and 180.202, as determined by the commissioner, may be deposited to the credit of the mortgage grant fund at the end of each fiscal year.(c)  The balance of the mortgage grant fund may not at any time exceed $300,000.|Added by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 7, eff. September 1, 2021.|
TX Fin Code § 156.552 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter G. Mortgage Grant Fund|Section 156.552. Funding

Sec. 156.552.  FUNDING.  The mortgage grant fund consists of:(1)  penalties collected by the commissioner and deposited to the credit of the fund in accordance with Section 156.551(b); and (2)  excess amounts transferred from the recovery fund under Section 156.502(b).|Added by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 7, eff. September 1, 2021.|
TX Fin Code § 156.553 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter G. Mortgage Grant Fund|Section 156.553. Management of Fund

Sec. 156.553.  MANAGEMENT OF FUND.  (a)  The commissioner, as manager of the mortgage grant fund, shall:(1)  subject to Subsection (b), invest and reinvest the assets of the fund;(2)  make disbursements from the fund in accordance with Section 156.554;(3)  advise the finance commission regarding the fund;(4)  maintain books and records for the fund as required by the finance commission; and(5)  appear at hearings or judicial proceedings related to the fund.(b)  Amounts in the mortgage grant fund may be invested and reinvested in accordance with Chapter 2256, Government Code, and under the prudent person standard described in Section 11b, Article VII, Texas Constitution.|Added by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 7, eff. September 1, 2021.|
TX Fin Code § 156.554 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter G. Mortgage Grant Fund|Section 156.554. Disbursement From Fund

Sec. 156.554.  DISBURSEMENT FROM FUND.  (a)  The commissioner shall approve each disbursement from the mortgage grant fund, which must be for a purpose authorized by Subsection (b).(b)  The commissioner:(1)  may provide grants in an aggregate amount of not more than $100,000 each year to an auxiliary mortgage loan activity company or another nonprofit organization for the purposes of:(A)  providing to consumers financial education relating to mortgage loans; and(B)  providing to other nonprofit organizations training in order for those organizations to provide to consumers financial education relating to mortgage loans;(2)  shall make disbursements from the fund to pay claims made under Section 156.555 that meet the requirements for payment under that section; and(3)  may make disbursements from the fund to provide support for statewide financial education, activities, and programs specifically related to mortgage loans for consumers, including activities and programs described by Section 393.628(c).|Added by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 7, eff. September 1, 2021.|
TX Fin Code § 156.555 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter G. Mortgage Grant Fund|Section 156.555. Payment of Claims for Fraudulent Unlicensed Activity

Sec. 156.555.  PAYMENT OF CLAIMS FOR FRAUDULENT UNLICENSED ACTIVITY.  (a)  A residential mortgage loan applicant may make a claim on and receive payment from the mortgage grant fund for the recovery of the applicant's actual, out-of-pocket damages incurred because of fraud committed by an individual who acted as a residential mortgage loan originator but who did not hold the required license issued under Chapter 157 at the time the individual committed the fraudulent act.(b)  The eligibility and procedural requirements for a claim made under Section 156.504 and the statute of limitations under Section 156.503 apply to a residential mortgage loan applicant who makes a claim under this section.(c)  Payments made from the mortgage grant fund to a residential mortgage loan applicant under this section are subject to the limits provided by Section 156.505.|Added by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 7, eff. September 1, 2021.|
TX Fin Code § 156.556 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 156 - Residential Mortgage Loan Companies|Subchapter G. Mortgage Grant Fund|Section 156.556. Rules

Sec. 156.556.  RULES.  The finance commission shall adopt rules to administer this subchapter, including rules governing implementation of Section 156.554 that:(1)  ensure a grant awarded under that section is used for a public purpose described by that section; and(2)  provide a means of recovering money awarded that is not used in compliance with that section.|Added by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 7, eff. September 1, 2021.|
TX Fin Code § 157.001 (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 A. General Provisions|Section 157.001. Short Title

Sec. 157.001.  SHORT TITLE.  This chapter may be cited as the Mortgage Banker Registration and Residential Mortgage Loan Originator License Act.|Added by Acts 2003, 78th Leg., ch. 1301, Sec. 1, eff. Jan. 1, 2004.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779), Sec. 1, eff. April 1, 2010.|
TX Fin Code § 157.002 (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 A. General Provisions|Section 157.002. Definitions

Sec. 157.002.  DEFINITIONS.  In this chapter:(1)  "Commissioner" means the savings and mortgage lending commissioner.(2)  "Disciplinary action" means any order by the commissioner that requires one or more of the following:(A)  suspension or revocation of a residential mortgage loan originator license under this chapter;(B)  probation of a suspension or revocation of a residential mortgage loan originator license under this chapter on terms and conditions that the commissioner determines appropriate;(C)  a reprimand of a person with a residential mortgage loan originator license under this chapter; or(D)  an administrative penalty imposed on a person holding a residential mortgage loan originator license under this chapter.(3)  "Finance commission" means the Finance Commission of Texas.(3-a)  "Inspection" includes examination.(4)  "Mortgage banker" means a person who:(A)  accepts an application for a residential mortgage loan, makes a residential mortgage loan, or services residential mortgage loans; and(B)  is an approved or authorized:(i)  mortgagee with direct endorsement underwriting authority granted by the United States Department of Housing and Urban Development;(ii)  seller or servicer of the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation; or(iii)  issuer for the Government National Mortgage Association.(4-a)  "Nationwide Mortgage Licensing System and Registry" has the meaning assigned by Section 180.002.(4-b)  "Recovery fund" means the fund established and maintained by the commissioner under Subchapter F, Chapter 156, and Section 13.016.(5)  "Residential mortgage loan" has the meaning assigned by Section 180.002.(5-a)  "Residential mortgage loan company" has the meaning assigned by Section 156.002.(6)  "Residential mortgage loan originator" has the meaning assigned by Section 180.002.|Added by Acts 2003, 78th Leg., ch. 1301, Sec. 1, eff. Jan. 1, 2004.Amended by: Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.053, eff. September 1, 2007.Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779), Sec. 2, eff. April 1, 2010.Acts 2011, 82nd Leg., R.S., Ch. 588 (S.B. 17), Sec. 2, eff. September 1, 2011.Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 45, eff. September 1, 2011.Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 48, eff. September 1, 2013.|