This legislative update summarizes Senate Bill 614 and House Bill 1442 from the 2019 Regular Session of the 86th Texas Legislature. Senate Bill 614 continues in existence the Finance Commission of Texas, the Department of Banking and the Savings and Mortgage Lending Department to September 1, 2031. House Bill 1442 continues in existence the Office of Consumer Credit Commissioner to September 1, 2031.
Previous to this legislative update, we issued Legislative Update I, which summaries Senate Bill 2330 granting temporary authority for certain individual applicants for residential mortgage loan originator licenses to act as a residential mortgage loan originator in Texas if certain conditions and requirements are met. Legislative Update I may be found on the Resources page of the firm’s website www.bmandg.com.