In the June 29, 2012 issue of the Texas Register (Vol. 37 No. 26), the Texas Finance Commission (the “Commission”) made revisions to the Texas Residential Mortgage Loan Originator Regulations (7 TAC Chapter 80) and the Mortgage Banker Registration and Residential Mortgage Loan Officer Licensing Regulations (7 TAC Chapter 81). This memorandum will only discuss the revisions to Chapter 81. See our July 24, 2012 memorandum for a discussion of the revisions to Chapter 80. Mortgage Banker Registration and Residential Mortgage Loan Originator Licensing Regulations The Commission made the following revisions to Chapter 81: 1. Adopted new §§81.1 – 81.5 (General Provisions); §§81.100 – 81.105 (Licensing); §§81.200 – 81.205 (Duties and Responsibilities); §§81.300 – 81.302 (Compliance and Enforcement). 2. Repealed §§81.1 – 81.6 (Licensing); §§81.7 – 81.9 (Professional Conduct); §81.10 (Administration and Records); §81.11 (Complaints and Investigations); §§81.12 – 81.13 (Examinations and Investigations); §81.14 (Hearings and Appeals); §81.15 (Mortgage Call Reports); §81.16 (Recovery Fund); §81.17 (Interpretations); §81.18 (Enforcement of Liens); §81.19 (Savings Clause); §81.20 (Sponsorship and Termination).
