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Texas Finance Code - FIN § 158.052. Exemptions;  Applicability

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

(a) This chapter does not require registration by:

(1) a federal or state depository institution, or a subsidiary or affiliate of a federal or state depository institution;

(2) a person registered under Chapter 157;

(3) a person licensed under Chapter 342 or regulated under Chapter 343, if the person does not act as a residential mortgage loan servicer servicing first-lien secured loans;  or

(4) a person making a residential mortgage loan with the person's own funds, or to secure all or a portion of the purchase price of real property sold by that person.

(b) This chapter applies only to a residential mortgage loan servicer that services at least one residential mortgage loan.

(c) Nothing in this chapter permits a person who is not otherwise exempt from this chapter to act as a residential mortgage loan originator, as defined by Section 180.002, without obtaining a license under the applicable provisions of law.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 158.052. Exemptions;  Applicability - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-158-052/

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