In the April 25, 2014 issue of the Texas Register (39 TexReg 3333), click here, the Finance Commission of Texas (Commission) published proposed amendments to 7 TAC Chapter 83, Subchapter A, §§83.101, 83.102, 83.203, 83.301 – 83.304, 83.307, 83.309 – 83.311, 83.403 – 83.405, 83.501 – 83.505, 83.601 – 83.604, 83.606, 83.701 – 83.704, 83.708, 83.751, 83.752, 83.754, 83.756, 83.757, 83.801, 83.805, 83.809, 83.828, 83.829, 83.831, 83.836, 83.837, 83.851, and 83.858, concerning Rules for Regulated Lenders. The proposed changes affect rules contained in Division 1, concerning General Provisions; Division 2, concerning Authorized Activities; Division 3, concerning Application Procedures; Division 4, concerning License; Division 5, concerning Interest Charges on Loans; Division 6, concerning Alternate Charges for Consumer Loans; Division 7, concerning Interest and Other Charges on Secondary Mortgage Loans; Division 8, concerning Refunds for Precomputed Loans; Division 9, concerning Insurance; Division 10, concerning Duties and Authority of Authorized Lenders; and Division 11, Prohibitions on Authorized Lenders. The proposed amendments affect those lenders and brokers holding a regulated loan license and those lenders and brokers who are exempt from holding a regulated loan license, who make, transact, negotiate, arrange, or broker loans subject to Chapter 342 of the Texas Finance Code (e.g., secondary mortgage loans subject to Chapter 342). The majority of the proposed amendments are clarifications and technical corrections that do not alter the general substance of the rules. Any rule not included in the proposed amendments will not be amended. Those wishing to comment on the proposed amendments must submit their comments in writing to Laurie Hobbs, Assistant General Counsel, Office of Consumer Credit Commissioner, 2601 North Lamar Boulevard, Austin, Texas 78705-4207 or by email to laurie.hobbs@occc.state.tx.us. To be considered, a written comment must be received on or before May 26, 2014. No written comments will be considered or accepted by the Commission after that date.
