In the November 15 issue of the Texas Register (Volume 49, Number 46, Pages 9204-25), the Finance Commission of Texas on behalf of the Texas Department of Savings and Mortgage Lending (“TDSML”) confirmed proposed changes to the rules concerning loan originators, bankers, mortgage companies, mortgage servicers, and wrap mortgage lending in the Texas Administrative Code that were originally proposed in in the September 6, issue of the Texas Register (Volume 49, Number 36, Pages 6864-6949). No changes were made to the proposed rules. The rules will be effective November 23, 2024 for most provisions. Our understanding per communication from TDSML is that examination review for the new rules will begin on January 1, 2025. Selected highlights of the changes include:
Full Memorandum
