Finance Code § 156.2044

An applicant for this license must file a complete application, pay the required fees, designate control persons, name a licensed residential mortgage loan originator as the qualifying individual, and not be in violation of the chapter, rules, or prior commissioner orders.

Jurisdiction: United States — Texas
Instrument: Code
Version: Undated source snapshot
Language: en
Official source: View official record ↗

license application loan processor underwriter company

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Provisions of Finance Code § 156.2044

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156.2044
Finance Code § 156.2044
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An applicant for this license must file a complete application, pay the required fees, designate control persons, name a licensed residential mortgage loan originator as the qualifying individual, and not be in violation of the chapter, rules, or prior commissioner orders.

Sec. 156.2044. QUALIFICATIONS AND REQUIREMENTS FOR LICENSE: INDEPENDENT CONTRACTOR LOAN PROCESSOR OR UNDERWRITER COMPANY. (a) To be issued an independent contractor loan processor or underwriter company license under this chapter, an applicant must: (1) submit a completed application together with the payment of applicable fees through the Nationwide Mortgage Licensing System and Registry; (2) designate control persons for the company through the Nationwide Mortgage Licensing System and Registry; (3) designate an individual licensed as a residential mortgage loan originator under Chapter 157 as the company's qualifying individual; and (4) not be in violation of this chapter, a rule adopted under this chapter, or any order previously issued by the commissioner to the applicant. (b) An independent contractor loan processor or underwriter company or a sponsored residential mortgage loan originator is not authorized to originate residential mortgage loans with a license issued under Subsection (a). (c) Repealed by Acts 2013, 83rd Leg., R.S., Ch. 160, Sec. 87(5), eff. September 1, 2013. Added by Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 16, eff. September 1, 2011. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 23, eff. September 1, 2013. Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 24, eff. September 1, 2013. Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 87(5), eff. September 1, 2013.

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Finance Code § 156.2044

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Provisions of Finance Code § 156.2044

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