Tex.
Fin. Code Section 180.153
Prohibited Acts and Practices
(1)
employ, directly or indirectly, a scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud a person;(2)
engage in an unfair or deceptive practice toward a person;(3)
obtain property by fraud or misrepresentation;(4)
solicit or enter into a contract with a borrower that provides in substance that the individual or other person subject to this chapter may earn a fee or commission through “best efforts” to obtain a loan even though no loan was actually obtained for the borrower;(5)
solicit, advertise, or enter into a contract for specific interest rates, points, or other financing terms unless the terms are actually available at the time of soliciting, advertising, or contracting;(6)
conduct any business regulated by this chapter without holding a license as required by this chapter;(7)
assist, aid, or abet an individual in the conduct of business without a license required by this chapter;(8)
fail to make disclosures as required by this chapter and any other applicable state or federal law, including rules or regulations under applicable state or federal law;(9)
fail to comply with this chapter or rules adopted under this chapter;(10)
fail to comply with any other state or federal law, including rules or regulations adopted under that law, applicable to a business or activity regulated by this chapter;(11)
make, in any manner, a false or deceptive statement or representation;(12)
negligently make a false statement or knowingly or wilfully make an omission of material fact in connection with:(A)
information or a report filed with a governmental agency or the Nationwide Mortgage Licensing System and Registry; or(B)
an investigation conducted by the regulatory official or another governmental agency;(13)
make a payment, threat, or promise, directly or indirectly, to a person for purposes of influencing the person’s independent judgment in connection with a residential mortgage loan, or make a payment, threat, or promise, directly or indirectly, to an appraiser of property, for purposes of influencing the appraiser’s independent judgment with respect to the property’s value;(14)
collect, charge, attempt to collect or charge, or use or propose an agreement purporting to collect or charge a fee prohibited by this chapter;(15)
cause or require a borrower to obtain property insurance coverage in an amount that exceeds the replacement cost of the improvements as established by the property insurer; or(16)
fail to truthfully account for money belonging to a party to a residential mortgage loan transaction.
Source:
Section 180.153 — Prohibited Acts and Practices, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.180.htm#180.153 (accessed Jun. 5, 2024).
