How often must a Texas licensed mortgage company file a statement of condition?

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Texas Finance Code
Is responsible for the licensing registration and regulation of the Texas mortgage industry?
What licensing is required for mortgage lenders in Texas?
What is mortgage compliance?
Which of the following chapters is also referred to as the Texas SAFE Mortgage Licensing Act of 2009?

Texas Finance Code

Sec. § 156.213
Mortgage Call Report

(a)Each licensed residential mortgage loan company shall file a mortgage call report with the commissioner or the commissioner’s authorized designee on a form prescribed by the commissioner or authorized designee. The report:

(1)

is a statement of condition of the residential mortgage loan company and the company’s operations, including financial statements and production activity volumes;

(2)

must include any other information required by the commissioner; and

(3)

must be filed as frequently as required by the commissioner.

(b)Information contained in the mortgage call report related to residential mortgage loan origination volume or other trade information, including information used to determine statistical entries in the report related to loan origination volume, is confidential and may not be disclosed by the commissioner, the commissioner’s authorized designee, or any other employee of the department.

Added by Acts 2001, 77th Leg., ch. 337, Sec. 9, eff. Sept. 1, 2001.

Amended by:

Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 28, eff. September 1, 2011.

Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 31, eff. September 1, 2013.

Is responsible for the licensing registration and regulation of the Texas mortgage industry?

Department of Savings and Mortgage Lending.

What licensing is required for mortgage lenders in Texas?

The TX-OCCC License is required for individuals who for compensation or gain or in the expectation of compensation or gain, take a residential mortgage loan application or offer or negotiates terms of a residential mortgage loan.

What is mortgage compliance?

What is mortgage compliance? Mortgage compliance is the industry's general term that refers to the rules and regulations that control the mortgage process. Not only is following mortgage compliance legally required, it's also a key to being a successful loan originator.