Tex. Fin. Code § 156.004

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 156.004 - Disclosure to Applicant

(a) At the time an applicant submits an application to a residential mortgage loan originator sponsored by and conducting business for a licensed or registered residential mortgage loan company under this chapter, the residential mortgage loan originator shall provide to the applicant a disclosure that specifies:

(1) the nature of the relationship between the applicant and the residential mortgage loan originator;

(2) the duties the residential mortgage loan originator has to the applicant; and

(3) how the residential mortgage loan originator will be compensated.

(b) The finance commission, by rule, shall adopt a standard disclosure form to be used by the residential mortgage loan originator.

Tex. Fin. Code § 156.004

Amended by Acts 2013, 83rd Leg. - Regular Session, ch. 160,Sec. 5, eff. 9/1/2013.

Amended By Acts 2011, 82nd Leg., R.S., Ch. 655, Sec. 7, eff. 9/1/2011.

Amended by Acts 2001, 77th Leg., ch. 867, Sec. 85, eff. 9/1/2001.

Added by Acts 1999, 76th Leg., ch. 1254, Sec. 2, eff. 9/1/1999.