In the January 1, 2021, Texas Register, the Finance Commission of Texas (Commission) published amendments to the Texas Administrative Code rules affecting Texas Residential Mortgage Loan Companies (7 TAC Chap. 80, click here) and Texas Mortgage Bankers and Residential Mortgage Loan Originators (7 TAC Chap. 81, click here). These amendments (herein “adopted rules”) are effective as of January 3, 2021.
The adopted rules are comprehensive and amend the following sections of Chapters 80 and 81:
1. Chapter 80: §80.1(Scope); §80.2 (Definitions); §80.200 (Required Disclosures); §80.202 (Prohibition on False, Misleading, or Deceptive Practices and Improper Dealings); §80.203 (Advertising); §80.204 (Books and Records); §80.205 (Mortgage Call Reports); §80.206 (Physical Office); §80.300 (Examinations); and §80.301 (Investigations, Administrative Penalties, and Disciplinary and/or Enforcement Actions).
2. Chapter 81: §81.1(Scope); §81.2 (Definitions); §81.3 (Interpretations); §81.200 (Required Disclosures); §81.202 (Prohibition on False, Misleading, or Deceptive Practices and Improper Dealings); §81.203 (Advertising); §81.204 (Books and Records); §81.205 (Mortgage Call Reports); §81.206 (Physical Office); §81.300 (Examinations); and §81.301 (Investigations).
Full Memorandum
