Proposed Amendments to 7 TAC §79.1 and §79.2

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 are appropriate.

The Department held a pre-comment stakeholders meeting at which it received feedback on the proposed rules. At its August 21, 2020 meeting, the Finance Commission voted to publish the rules in the Texas Register for public comment.

• Chapter 79 was published on September 4 in the Texas Register. Public comment ends October 4.
• A link to the proposed rule amendments can be found on SML’s website. You may visit the link directly to the proposed rule amendments on the Texas Register’s website.
• Proposed amendments to Chapters 80 and 81 have been submitted for publication and should be published in the September 25 issue of the Texas Register. This will be followed by a comment period anticipated to end on October 25. When published, the Department will post a notice and link on its website.

Caroline C. Jones
Commissioner