Seller Financing Loan Origination & Compliance Support

From Wednesday, July 21, 8:00 p.m. Eastern Time (7:00 p.m. Central Time) through Monday, July 26, 7:00 a.m. Eastern Time (6:00 a.m. Central Time), the Nationwide Multi-State Licensing System (NMLS) and NMLS Consumer Access will be unavailable for system maintenance to all users including mortgage entities, residential mortgage loan originators, and regulatory personnel. During this period, the…

The Department of Savings and Mortgage Lending (SML or the Department) is considering repeals, new rules, and… Read More →

Effective March 1, 2021, the application fee for an initial mortgage loan originator license is reduced to $25.00. The significant growth in the mortgage industry resulted in higher than anticipated collected revenues during this fiscal year to date. The Department has determined that the fee reduction will not impact its ability to cover the anticipated cost of regulation….

SML will not be collecting third and fourth quarter assessments for FY21. The significant growth in the thrift industry resulted in higher than anticipated collected revenues during this fiscal year to date. The Department has determined that the non-collection of assessments will not impact its ability to cover the anticipated cost of regulation. Thank you for the…

Note: This guidance revises and replaces the home equity lending guidance published by the joint financial regulatory agencies on April 22, 2020. The joint financial regulatory agencies (Department of Banking, Department of Savings and Mortgage Lending, Office of Consumer Credit Commissioner, and Credit Union Department) issue this guidance on emergency measures for home equity lenders to consider in response to the COVID-19 pandemic. On March 13, Governor Greg…

In the late summer and fall of 2020, TBA began to receive an increasing number of communications from member… Read More →

The Department of Savings and Mortgage Lending (SML or the Department) is considering amendments to 7 Texas Administrative Code (TAC), Chapter 75, and Chapter 76, affecting Texas-chartered savings banks. The amendments were identified during the Department’s periodic review of its rules conducted pursuant to Government Code § 2001.039. This notice contains an overview of the…

On August 21, 2020, the Finance Commission adopted amendments to 7 TAC §155.2, concerning Payoff Statements Forms. The amendments revised the loan payoff statement form loan servicers are required to use when reporting the payoff figure for a mortgage loan. The revised form requires the loan servicer to state the loan number assigned for identification…

The Department has proposed amendments to 7 TAC 79.1 and 7 TAC 79.2, both of which affect mortgage loan servicers. The amendments were identified during “rule review,” which is a process where state agencies are required to review their rules every four years to determine if the rules are still necessary, and whether any amendments…

On August 21, 2020, the Finance Commission adopted amendments to 7 TAC §76.98 Annual Fee To Do Business. The amendments allow the Department to base the calculation of the annual assessment fee on the state savings bank’s risk-weighted or total assets, whichever is lower. The amended rule is scheduled to be published on September 4,…