Texas Finance Code

§ 157.0121 — EXEMPTIONS FROM RESIDENTIAL MORTGAGE LOAN ORIGINATOR REQUIREMENTS

FI § 157.0121Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 157. MORTGAGE BANKERS AND RESIDENTIAL MORTGAGE LOAN ORIGINATORS · Art. D. LICENSING OF RESIDENTIAL MORTGAGE LOAN ORIGINATORS; DISCLOSURES AND REQUIREMENTS

Statute text

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(a)In this section, "depository institution," "dwelling," "federal banking agency," and "immediate family member" have the meanings assigned by Section 180.002.

(b)The following individuals are exempt from this chapter:

(1)a registered mortgage loan originator when acting for:

(A)a depository institution;

(B)a subsidiary of a depository institution that is:

(i)owned and controlled by the depository institution; and

…

Legislative history

Acts 2015, 84th Leg., R.S., Ch. 258 (S.B. 1203), Sec. 2, eff. September 1, 2015. Acts 2021, 87th Leg., R.S., Ch. 76 (S.B. 43), Sec. 2, eff. January 1, 2022.