In the August 30, 2013, issue of the Texas Register (38 TexReg 5702), the Finance Commission of Texas published final amendments to the residential mortgage loan company, mortgage banker and residential mortgage loan originator rules in Title 7, Part 4, Chapters 80 and 81 of the Texas Administrative Code (7 TAC Chapters 80 and 81) to implement statutory changes made to Chapters 156, 157 and 180 of the Finance Code by the 2013 legislative session (see Senate Bill 1004, eff. September 1, 2013). These Texas Administrative Code amendments generally are of a technical nature, the main thrust of which is to align Chapters 80 and 81 with the statutory movement of the individual residential mortgage loan originator licensing provisions from Chapter 156 to Chapter 157 of the Finance Code. These amendments to Chapters 80 and 81 of the Texas Administrative Code did not change from the proposed amendments published in the July 5, 2013, issue of the Texas Register (38 TexReg 4253). If you wish to have a copy of these Administrative Code amendments, you may contact me at the above phone number or email me at ddulock@bmandg.com. These amendments are effective September 5, 2013. Download complete memorandum below
