In the March 6, 2026, issue of the Texas Register (51 TexReg 1351), the Finance Commission of Texas published proposed amendments to Sections 83.828 and 83.829 in 7 TAC Chapter 83, Subchapter A of the Texas Adminstrative Code, concerning Rules for Regulated Lenders to update recordkeeping requirements. The proposed amendments to Section 83.829 impact lenders licensed by the Office of Consumer Credit Commissioner under Chapter 342 of the Texas Finance Code who make secondary mortgage loans. The proposed amendments to Section 83.828 involve lenders making loans not secured by real property and are beyond the scope of this memo.
The proposed amendments to Section 83.829 pertaining to secondary mortgage loan lenders licensed under Chapter 342 “would simplify and rearrange language to refer to electronic recordkeeping before paper systems, specify that licensees must maintain records for an information security program, and specify that licensees must maintain data breach notifications.” (51 TexReg 1351). The regulations concerning information security programs and data breach notifications do not create any new requirements for lenders but rather reiterate existing responsibilities under state and federal law. Thus, the OCCC noted that it did not anticipate these proposed regulations to create any additional regulatory burdens for lenders.
Full Memorandum
