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Mortgage Broker/Loan Officer- Revised Rules

In order to implement the recent legislative changes to the Mortgage Broker License Act (Chapter 156, Finance Code, herein the “Act”) made by House Bills 1716 and 2783 (see our Legislative Update dated August 6, 2007), the Finance Commission of Texas (“Finance Commission”) published in the November 2, 2007 issue of the Texas Register amendments to the following mortgage broker rules: 7 TAC §§80.1 – 80.7 (Licensing), §§80.12 – 80.14 (Administration and Records), §§80.20 and 80.21 (Inspections and Investigations), and §80.23 (Annual Reports). These amended rules become effective November 11, 2007.

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