81st Texas Legislature, Regular Session, House Bill 10, Chapter 1104 Page: 1 of 52
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H. B. No. 10
Chapter 1104
1 AN ACT
2 relating to the regulation of residential mortgage loan
3 originators; providing a penalty.
4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
5 SECTION 1. Subtitle E, Title 3, Finance Code, is amended by
6 adding Chapter 180 to read as follows:
7 CHAPTER 180. RESIDENTIAL MORTGAGE LOAN ORIGINATORS
8 SUBCHAPTER A. GENERAL PROVISIONS
9 Sec. 180.001. SHORT TITLE. This chapter may be cited as the
10 Texas Secure and Fair Enforcement for Mortgage Licensing Act of
11 2009.
12 Sec. 180.002. DEFINITIONS. In this chapter:
13 (1) "Clerical or support duties," following the
14 receipt of an application from a consumer, includes:
15 (A) the receipt, collection, distribution, and
16 analysis of information related to the processing or underwriting
17 of a residential mortgage loan; and
18 (B) communication with a consumer to obtain
19 information necessary to process or underwrite a loan, to the
20 extent that the communication does not include offering or
21 negotiating loan rates or terms or counseling the consumer about
22 residential mortgage loan rates or terms.
23 (2) "Credit union" means a state or federal credit
24 union operating in this state.
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Texas. Legislature. House of Representatives. 81st Texas Legislature, Regular Session, House Bill 10, Chapter 1104, legislative document, 2009-05/2009-06; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth148203/m1/1/: accessed May 5, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.