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Texas Finance Code - FIN § 158.002. Definitions

Current as of January 01, 2024 | Updated by Findlaw Staff

In this chapter:

(1) “Commissioner” means the savings and mortgage lending commissioner.

(2) “Finance commission” means the Finance Commission of Texas.

(3) “Person” means an individual, corporation, company, limited liability company, partnership, or association.

(4) “Registrant” means a person registered under this chapter.

(5) “Residential mortgage loan” means a loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling or on residential real estate.

(6) “Residential mortgage loan servicer” means a person who:

(A) receives scheduled payments from a borrower under the terms of a residential mortgage loan, including amounts for escrow accounts;  and

(B) makes the payments of principal and interest to the owner of the loan or other third party and makes any other payments with respect to the amounts received from the borrower as may be required under the terms of the servicing loan document or servicing contract.

(7) “Residential real estate” means real property located in this state on which a dwelling designed for occupancy for one to four families is constructed or intended to be constructed.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 158.002. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-158-002/

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