Section 157.002 - Definitions In this chapter:
(1) "Commissioner" means the savings and mortgage lending commissioner.(2) "Disciplinary action" means any order by the commissioner that requires one or more of the following:(A) suspension or revocation of a residential mortgage loan originator license under this chapter;(B) probation of a suspension or revocation of a residential mortgage loan originator license under this chapter on terms and conditions that the commissioner determines appropriate;(C) a reprimand of a person with a residential mortgage loan originator license under this chapter; or(D) an administrative penalty imposed on a person holding a residential mortgage loan originator license under this chapter.(3) "Finance commission" means the Finance Commission of Texas.(3-a) "Inspection" includes examination.(4) "Mortgage banker" means a person who:(A) accepts an application for a residential mortgage loan, makes a residential mortgage loan, or services residential mortgage loans; and(B) is an approved or authorized:(i) mortgagee with direct endorsement underwriting authority granted by the United States Department of Housing and Urban Development;(ii) seller or servicer of the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation; or(iii) issuer for the Government National Mortgage Association.(4-a) "Nationwide Mortgage Licensing System and Registry" has the meaning assigned by Section 180.002.(4-b) "Recovery fund" means the fund established and maintained by the commissioner under Subchapter F, Chapter 156, and Section 13.016.(5) "Residential mortgage loan" has the meaning assigned by Section 180.002.(5-a) "Residential mortgage loan company" has the meaning assigned by Section 156.002.(6) "Residential mortgage loan originator" has the meaning assigned by Section 180.002.Amended by Acts 2013, 83rd Leg. - Regular Session, ch. 160,Sec. 48, eff. 9/1/2013.Amended By Acts 2011, 82nd Leg., R.S., Ch. 588, Sec. 2, eff. 9/1/2011.Amended By Acts 2011, 82nd Leg., R.S., Ch. 655, Sec. 45, eff. 9/1/2011.Amended By Acts 2009, 81st Leg., R.S., Ch. 1147, Sec. 2, eff. 4/1/2010.Amended By Acts 2007, 80th Leg., R.S., Ch. 921, Sec. 6.053, eff. 9/1/2007.Added by Acts 2003, 78th Leg., ch. 1301, Sec. 1, eff. 1/1/2004.