Texas Amends Secondary Mortgage Loan Act Rules

Texas adopted rules amending the Secondary Mortgage Loan Act. The adopted rules: require applicants for a lender or broker license to pay a fee for processing fingerprints (the amount to be determined by the Texas Department of Public Safety); require lenders, brokers and loan originators to maintain license information filed with the Commissioner; amend recordkeeping requirements; and amend suspension and revocation provisions. The adopted rules become effective September 8, 2016.

See Texas Secretary of State website for the full text of the Regulations