We are pleased to report that earlier this week, Governor Greg Abbott signed into law Senate Bill 614, authored by Senators Robert Nichols, Brian Birdwell, Dawn Buckingham and Bob Hall, and sponsored by Representative Stan Lambert. The law provides for the continuation of the Texas Department of Savings and Mortgage Lending (TDSML) from September 1, 2019 – September 1, 2031, with some important modifications designed to increase its operational efficiencies and implement certain best practices for oversight.
We appreciate the good work of those supporting the legislation as it moved its way through the Senate and House. We believe the law is a great benefit for our industry and those we serve.