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Seller Financing Loan Origination & Compliance Support
Loan Originator Services, LLC is a spin-off from a long-established company in the Seller Financing and Loan Servicing industry in Texas. With over 35 years of Seller Financing experience, we are more in tune with the challenges of the industry than any other Loan Origination Company. Established in 2013, we will support you by keeping you in compliance.
Regulation / Trending News
Adopted Rules Notice: Wrap Mortgage Loans
By Pws Builder |
On January 1, 2022, Texas Finance Code Chapter 159 (Chapter 159) became effective, concerning the regulation of wrap mortgage loans. Effective January 8, 2022, the Department of Savings and Mortgage Lending (Department) adopted new rules (regulations) to implement Chapter 159, contained in 7 Texas Administrative Code Chapter 78 (Chapter 78). The new rules were published for adoption in…
Adopted Rules Notice: Authorization for Remote Work
By Pws Builder |
Effective November 4, 2021, the Department of Savings and Mortgage Lending adopted new rules (regulations) to provide clear guidance concerning authorization for the employees and sponsored originators of a mortgage banker or mortgage company to work remotely. The rules also clarify requirements concerning office locations of a mortgage banker or mortgage company. The new rule…
Press Release: Multi-State Settlement on Rocket Mortgage Advertising Practices
By Pws Builder |
AUSTIN – The Department of Savings and Mortgage Lending (SML), an agency of the State of Texas, announced today that it joined regulators from 11 other states in entering into a legal settlement agreement with Rocket Mortgage, LLC (formerly known as Quicken Loans, LLC), headquartered in Detroit, Michigan. Read more…
Notice of Precomment Draft and Stakeholders Webinar – Chapter 78, Wrap Mortgage Loans
By Pws Builder |
The Department of Savings and Mortgage Lending (SML or the Department) is considering new rules in 7 Texas Administrative Code (TAC) Chapter 78, concerning Wrap Mortgage Loans. The Department will hold a stakeholder webinar on September 23, 2021 at 11:00 a.m. to discuss the pre-comment draft of the rule changes. Read more… Stakeholder Webinar Recording (uploaded…
Search Committee and FY2022 Assessments
By Pws Builder |
At the August Finance Commission meeting, Will Lucas, President/CEO of Shelby Savings Bank, and Chairman of the SML Commissioner Search Committee, updated the Finance Commission on the Search Committee’s work. Applications will continue to be accepted until the position is filled. Deputy Commissioner Stephany Trotti was appointed Interim Commissioner beginning September 1, 2021. At the meeting, SML presented…
Search Committee and FY2022 Fees
By Pws Builder |
At the August Finance Commission meeting, Will Lucas, President/CEO of Shelby Savings Bank, and Chairman of the SML Commissioner Search Committee, updated the Finance Commission on the Search Committee’s work. Applications will continue to be accepted until the position is filled. Deputy Commissioner Stephany Trotti was appointed Interim Commissioner beginning September 1, 2021. At the meeting, SML presented…
Proposed New Rule and Repeal of 7 TAC §76.95
By Pws Builder |
The Department of Savings and Mortgage Lending (Department) is considering a new rule and the repeal of 7 Texas Administrative Code (TAC) §76.95, concerning Fee for Special Examination or Audit. A Notice of Pre-comment Draft with the text of the new rule and repeal being considered has been posted to the Department’s website. A recorded webinar with an overview…
Notice of Precomment Draft and Stakeholders Webinar – 7 TAC §76.95
By Pws Builder |
The Department of Savings and Mortgage Lending (SML or the Department) is considering a new rule and the repeal of 7 Texas Administrative Code (TAC) §76.95, concerning Fee for Special Examination or Audit. The Department will record a stakeholder webinar to discuss the pre-comment draft of the rule changes and post it to the Department’s website. Read more… Stakeholder Webinar Recording (uploaded August 3, 2021):
Notice of Precomment Draft and Stakeholders Webinar – Chapters 80 and 81
By Pws Builder |
The Department of Savings and Mortgage Lending (SML or the Department) is considering amendments, new rules, and repeals in 7 Texas Administrative Code (TAC) Chapter 80, concerning Texas Residential Mortgage Loan Companies, and Chapter 81, concerning Mortgage Bankers and Residential Mortgage Loan Originators. Read more… Stakeholder Webinar Recording (uploaded August 3, 2021):
Notice of Precomment Draft and Stakeholders Webinar – Chapter 52, Department Administration
By Pws Builder |
The Department of Savings and Mortgage Lending (SML or the Department) is considering new rules in 7 Texas Administrative Code (TAC) Chapter 52, concerning Department Administration. The Department will hold a stakeholder webinar on July 28, 2021 at 1:30 p.m. to discuss the pre-comment draft of the rule changes. Read more… Stakeholder Webinar Recording (uploaded August 3, 2021):