Tex. Finance Code § 156.2044
QUALIFICATIONS AND REQUIREMENTS FOR LICENSE: INDEPENDENT CONTRACTOR LOAN PROCESSOR OR UNDERWRITER COMPANY
Texas · Texas Finance Code · Status: effective
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- Tex. Finance Code § 156.2044, QUALIFICATIONS AND REQUIREMENTS FOR LICENSE: INDEPENDENT CONTRACTOR LOAN PROCESSOR OR UNDERWRITER COMPANY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/646336
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Full text
(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(c) Repealed by Acts 2013, 83rd Leg., R.S., Ch. 160, Sec. 87(5), eff.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.