Tex. Fin. Code Section 157.0021
Disclosure Statement

(a)

A mortgage banker that is a residential mortgage loan originator shall include a notice to a residential mortgage loan applicant with an application for a residential mortgage loan. The finance commission by rule shall adopt a standard disclosure form to be used by the mortgage banker. The form must:

(1)

include the name, address, and toll-free telephone number for the Department of Savings and Mortgage Lending;

(2)

contain information on how to file a complaint or recovery fund claim; and

(3)

prescribe a method for proof of delivery to the consumer.

(b)

A mortgage banker that indicates in its registration that it acts as a residential mortgage loan servicer shall provide to the borrower of each residential mortgage loan it services the following notice not later than the 30th day after the date the mortgage banker commences servicing the loan:
“COMPLAINTS REGARDING THE SERVICING OF YOUR MORTGAGE SHOULD BE SENT TO THE DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, ______________________________ (street address of the Department of Savings and Mortgage Lending). A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT _______________ (telephone number of the Department of Savings and Mortgage Lending’s toll-free consumer hotline).”
Added by Acts 2003, 78th Leg., ch. 1301, Sec. 1, eff. Jan. 1, 2004.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.054, eff. September 1, 2007.
Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779), Sec. 5, eff. April 1, 2010.
Acts 2011, 82nd Leg., R.S., Ch. 588 (S.B. 17), Sec. 4, eff. September 1, 2011.
Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 50, eff. September 1, 2011.
Transferred and redesignated from Finance Code, Section 157.007 by Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 54, eff. September 1, 2013.

Source: Section 157.0021 — Disclosure Statement, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­157.­htm#157.­0021 (accessed Jun. 5, 2024).

157.001
Short Title 157.002
Definitions 157.003
Registration Required 157.004
Exemptions 157.005
Update of Registration 157.006
Registration and Administration Fee 157.009
Termination of Registration 157.010
Reregistration 157.012
License Required for Residential Mortgage Loan Originators 157.013
Application for License 157.014
Issuance of Residential Mortgage Loan Originator License 157.015
Renewal of License 157.016
Reinstatement After Expiration of License 157.017
Denial of Applications and Renewals 157.019
Modification of License 157.020
Mortgage Call Report 157.0021
Disclosure Statement 157.021
Inspection 157.022
Issuance and Enforcement of Subpoena 157.0022
Complaints 157.0023
Rulemaking Authority 157.023
Administrative Penalty 157.024
Disciplinary Action 157.0024
Mortgage Industry Advisory Committee 157.025
Restitution 157.026
Hearings and Judicial Review 157.027
Civil Actions and Injunctive Relief 157.028
Burden of Proof to Establish an Exemption 157.029
Reliance on Written Notices from the Commissioner 157.030
Completion of Residential Mortgage Origination Services 157.031
Unlicensed Activity 157.032
Powers of Commissioner 157.0061
Renewal of Registration 157.0062
Reinstatement After Expiration of Registration 157.0121
Exemptions from Residential Mortgage Loan Originator Requirements 157.0131
Conviction of Offense 157.0132
Criminal and Other Background Checks 157.0141
Conditional License 157.0201
Recovery Fund 157.0211
Multi-state Examination Authority of Residential Mortgage Loan Servicer 157.0241
Revocation or Suspension of License for Payment from Recovery Fund 157.02012
Standard Forms 157.02013
Secondary Market Transactions 157.02014
Affiliated Business Arrangements 157.02015
Rulemaking Authority with Respect to Residential Mortgage Loan Originators 157.02016
Administration of Subchapter
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 157.0021’s source at texas​.gov