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State Law
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Texas Finance Code - Chapter 156 Mortgage BrokersLegal Research Home > Texas Lawyer > Finance Code > Texas Finance Code - Chapter 156 Mortgage Brokers Text of section as added by Acts 2001, 77th Leg., ch. 337, § 9 (a) Each licensed mortgage broker shall file an annual report ... Text of section as added by Acts 2001, 77th Leg., ch. 407, § 3 (a) Each licensed mortgage broker shall file an annual report ... (a) The commissioner may conduct inspections of a person licensed under this chapter as the commissioner determines necessary to determine whether the person is complying ... (a) During an investigation, the commissioner may issue a subpoena that is addressed to a peace officer of this state or other person authorized by ... (a) The commissioner may impose an administrative penalty on a person licensed under this chapter who violates this chapter or a rule or order adopted ... (a) The commissioner may order disciplinary action against a licensed mortgage broker or a licensed loan officer when the commissioner, after a hearing, has determined ... (a) Before the completion of all services to be performed, a mortgage broker may charge and receive, unless prohibited by law, the following fees for ... The commissioner may order a person to make restitution for any amount received by that person in violation of this chapter. A mortgage broker may ... (a) The commissioner may employ an enforcement staff to investigate and prosecute complaints made against persons licensed under this chapter. The commissioner may employ a ... (a) A mortgage applicant injured by a violation of this chapter may bring an action for recovery of actual monetary damages and reasonable attorney's fees ... The burden of proving an exemption in a proceeding or action brought under this chapter is on the person claiming the benefit of the exemption. ... A person does not violate this chapter with respect to an action taken or omission made in reliance on a written notice, written interpretation, or ... (a) On disbursement of mortgage proceeds to or on behalf of the mortgage applicant, the mortgage broker and loan officer who assisted the mortgage applicant ... (a) A person who is not exempt under this chapter and who acts as a mortgage broker or loan officer without first obtaining a license ... (a) The commissioner shall establish and maintain a mortgage broker recovery fund as provided by this subchapter. The amounts received by the commissioner for deposit ... (a) On an application for an original license or for renewal of a license issued under this chapter, the applicant, in addition to paying the ... An action for a judgment that subsequently results in an order for collection from the fund may not be instituted after the second anniversary of ... (a) An aggrieved person who recovers against a mortgage broker or loan officer licensed under this chapter a valid court judgment for conduct described by ... (a) A person entitled to receive payment out of the fund is entitled to receive reimbursement of actual, out-of-pocket damages, reasonable attorney's fees, and court ... (a) The commissioner may revoke a license issued under this chapter on proof that the commissioner has made a payment from the fund of any ... When the commissioner has paid a judgment creditor an amount from the fund as directed by the court, the commissioner is subrogated to all of ... The failure of an aggrieved person to comply with a provision of this subchapter relating to the fund constitutes a waiver of any rights under ... Last modified: August 10, 2007 |