Tex.
Fin. Code Section 342.001
Definitions
(1)
“Irregular transaction” means a loan:(A)
that is payable in installments that are not consecutive, monthly, and substantially equal in amount; or(B)
the first scheduled installment of which is due later than one month and 15 days after the date of the loan.(2)
“Regular transaction” means a loan:(A)
that is payable in installments that are consecutive, monthly, and substantially equal in amount; and(B)
the first scheduled installment of which is due within one month and 15 days after the date of the loan.(3)
“Regulated loan license” means a consumer loan license.(4)
“Secondary mortgage loan” means a loan that is:(A)
secured in whole or in part by an interest, including a lien or security interest, in real property that is:(i)
improved by a dwelling designed for occupancy by four or fewer families; and(ii)
subject to one or more liens, security interests, prior mortgages, or deeds of trust; and(B)
not to be repaid before the 91st day after the date of the loan.
Source:
Section 342.001 — Definitions, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.342.htm#342.001 (accessed May 26, 2025).
