Texas Finance Code

§ 341.605 — PROCEDURE FOR RECOVERY

FI § 341.605Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 341. GENERAL PROVISIONS · Art. G. STATE-LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATOR RECOVERY FUND

Statute text

View on source

(a)To recover from the fund, a residential mortgage loan applicant must file a written sworn application with the commissioner in the form prescribed by the commissioner. A person who knowingly makes a false statement in connection with applying for money out of the fund may be subject to criminal prosecution under Section 37.10, Penal Code.

(b)The residential mortgage loan applicant is required to show:

(1)that the applicant's claim is based on facts allowing recovery under Section 341.602; and

(2)that the applicant:

(A)is not a spouse of the state-licensed residential mortgage loan originator;

(B)is not a child, parent, grandchild, grandparent, or sibling, including relationships by adoption, of the state-licensed residential mortgage loan originator;

…

Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 9, eff. June 19, 2009.