Tex.
Fin. Code Section 157.002
Definitions
(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 (Definitions).(4-b)
“Recovery fund” means the fund established and maintained by the commissioner under Subchapter F (Recovery Fund), Chapter 156 (Residential Mortgage Loan Companies), and Section 13.016 (Recovery Fund).(5)
“Residential mortgage loan” has the meaning assigned by Section 180.002 (Definitions).(5-a)
“Residential mortgage loan company” has the meaning assigned by Section 156.002 (Definitions).(6)
“Residential mortgage loan originator” has the meaning assigned by Section 180.002 (Definitions).
Source:
Section 157.002 — Definitions, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.157.htm#157.002 (accessed Apr. 29, 2024).
