Texas Finance Code

§ 342.307 — AMOUNTS AUTHORIZED TO BE INCLUDED IN CONTRACT

FI § 342.307Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 342. CONSUMER LOANS · Art. G. INTEREST AND OTHER CHARGES ON SECONDARY MORTGAGE LOANS

Statute text

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A secondary mortgage loan contract may provide for:

(1)reasonable fees or charges paid to the trustee in connection with a deed of trust or similar instrument executed in connection with the secondary mortgage loan, including fees for enforcing the lien against or posting for sale, selling, or releasing the property secured by the deed of trust;

(2)reasonable fees paid to an attorney who is not an employee of the creditor in the collection of a delinquent secondary mortgage loan; or

(3)court costs and fees incurred in the collection of the loan or foreclosure of a lien created by the loan.

Legislative history

Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999; Acts 1999, 76th Leg., ch. 909, Sec. 2.14, eff. Sept. 1, 1999.