TX HB3903

Expands who can request a payoff statement from a property tax lender to include property owners and persons authorized by the property owner, in addition to lenders with existing recorded liens on the property

Requires the Finance Commission of Texas to prescribe the form and content of payoff statement requests for all newly authorized requesters

Mandates that property tax lenders (transferees) deliver payoff statements to requesting lenders, property owners, or their authorized representatives within a period set by commission rule, with a minimum of seven business days to respond

Authorizes the consumer credit commissioner to assess administrative penalties against transferees who willfully fail to provide payoff statements as required

Takes effect September 1, 2025, with the Finance Commission required to adopt implementing rules as soon as practicable