Seller Financing Loan Origination & Compliance Support

Due to higher than normal volume relating to renewals, the Nationwide Mortgage Licensing Systems and Registry (NMLS) is experiencing periodic outages. These outages are affecting the Department of Savings and Mortgage Lending’s ability to access and review records in NMLS. The periodic outages will also affect other parties’ (mortgage entities and residential mortgage loan originators)…

Due to Agency-Wide Training on May 26, 2022, the Mortgage Licensing section will be answering licensing questions from 1:00 p.m. to 5:00 p.m. Central Standard Time instead of the usual time slot of 8:00 a.m. to 12:00 p.m. Central Standard Time. On May 27, 2022, the Department will resume answering phone calls between 8:00 a.m….

Effective May 14, 2022, the Department of Savings and Mortgage Lending adopted new rules (regulations) to provide clear guidance concerning the books and records that a mortgage company, mortgage banker, and individual residential mortgage loan originators (RMLOs) must maintain. The rules describe in greater detail the specific books and records that must be maintained. The…

Today, 05/09/2022, the Department is pleased to announce the publication of recently updated NMLS Checklists for Residential Mortgage Loan Companies, Mortgage Bankers, and Mortgage Servicers on the Nationwide Multistate Licensing System’s website. The new NMLS Checklists provide greater guidance to the mortgage industry on: Who is required to have a license or registration, Required prerequisites for…

The Department of Savings and Mortgage Lending (SML or the Department) is considering changes to its rules in 7 Texas Administrative Code (TAC) Chapter 51, concerning Charter Applications, and affecting the thrift industry (savings and loan associations only); and Chapter 52, concerning Department Administration, which governs the Department’s processes and procedures. The Department will hold…

Due to Agency-Wide Training on February 24, 2022, the Mortgage Licensing section will be answering licensing questions from 1:00 p.m. to 5:00 p.m. Central Standard Time instead of usual time slot of 8:00 a.m. to 12:00 p.m. Central Standard Time. On February 25, 2022, the Department will resume answering phone calls between 8:00 a.m. to…

The Joint Financial Regulatory Agencies (Texas Department of Banking, Department of Savings and Mortgage Lending, Office of Consumer Credit Commissioner, and Texas Credit Union Department) held an online webinar on January 12, 2022, at 2:00 p.m. During the webinar, the agencies discussed the January 5 precomment draft of amendments to 7 Tex. Admin. Code § 153.1, relating…

The following press release, issued by the Conference of State Bank Supervisors (CSBS), was recently posted to their website. The press release announces forty-four state regulators reaching settlements with hundreds of mortgage loan originators over SAFE Act education requirements. Through the settlements, over 70 Texas-licensed residential mortgage loan originators agreed to surrender their licenses for a…

The Department of Savings and Mortgage Lending (SML or the Department) is considering changes to its rules at 7 Texas Administrative Code (TAC) §80.204 and §81.204, concerning Books and Records. The Department will hold a stakeholder webinar on January 19, 2022 at 2:00 p.m. to discuss the pre-comment draft of the rule changes. Read more… Stakeholder…

The following press release, issued by the Finance Commission of Texas, was recently posted to the Commission’s website. The press release announces Hector Retta as the Commissioner of the Department of Savings and Mortgage Lending, effective February 1, 2022. Press Release:  Finance Commission of Texas Announces the Appointment of Savings and Mortgage Lending Department Commissioner