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TX SB74
Bill
Status
11/12/2024
Primary Sponsor
Judith Zaffirini
Click for details
AI Summary
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Reduces the number of residential mortgage loans a property owner can make without a license from five to three within any 12-consecutive-month period
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Applies to loans made to purchasers for all or part of the purchase price of residential real estate where the mortgage is secured by that property
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Maintains existing exemptions for registered mortgage loan originators acting for depository institutions, individuals negotiating loans with immediate family members, licensed attorneys handling loans as ancillary matters, and individuals offering loans secured by their own residence
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Takes effect September 1, 2025
Legislative Description
Relating to an exemption from residential mortgage loan originator licensing requirements.
Property Interests
Last Action
Referred to Business & Commerce
2/3/2025