April 30, 2025
To: Clients and Friends
From: Daniel S. Engle
Subject: Texas Department of Savings and Mortgage Lending Posts Webinar Concerning Proposed Changes to Procedural Rules
On April 21, 2025, the Texas Department of Savings and Mortgage Lending hosted a webinar discussing proposed changes to rules currently in Title 7, Part 4, Chapter 51 of the Texas Administrative Code. These are procedural and administrative rules addressing matters such as complaint procedures, advisory committees and administration of recovery funds to consumers who were fraudulently harmed by unlicensed activities. These are not substantive rules governing loan originators, mortgage companies, mortgage bankers, or mortgage servicers.
The Department has posted their redline drafts of their proposed changes and a recording of the webinar on their website, which can found be here: click here. Per the webinar, their potential timeline is for the proposed rules to be published in the Texas Register on May 9, with the goal of publishing the adopted rules in July.
The official comment period for stakeholders will last for thirty days after publication of the rule proposal in the Texas Register. Stakeholders may send comments to rules.comments@sml.texas.gov.
This Memorandum is provided as general information in regard to the subject matter covered, but no representations or warranty of the accuracy or reliability of the content of this information are made or implied. Opinions expressed in this memorandum are those of the author alone. In publishing this information, neither the author nor the law firm of Black, Mann & Graham L.L.P. is engaged in rendering legal services. While this information concerns legal and regulatory matters, it is not legal advice and its use creates no attorney-client relationship or any other basis for reliance on the information. Readers should not place reliance on this information alone but should seek independent legal advice regarding the law applicable to matters of interest or concern to them. The law firm of Black, Mann & Graham L.L.P. expressly disclaims any obligation to keep the content of this information current or free of errors.
Full Memorandum
