Texas § FI.157.012 - LICENSE REQUIRED FOR RESIDENTIAL MORTGAGE LOAN ORIGINATORS
Full text of Texas The Texas Constitution § FI.157.012 — LICENSE REQUIRED FOR RESIDENTIAL MORTGAGE LOAN ORIGINATORS, with citation guidance and answers to common questions.
§ FI.157.012. LICENSE REQUIRED FOR RESIDENTIAL MORTGAGE LOAN ORIGINATORS
LICENSE REQUIRED FOR RESIDENTIAL MORTGAGE LOAN ORIGINATORS. (a) An individual may not act or attempt to act in the capacity of a residential mortgage loan originator unless the individual is exempt under Section 157.0121 or 180.003 (b), is acting under the temporary authority described under Section 180.0511 , or: (1) is licensed under this chapter, sponsored by an appropriate entity, and enrolled with the Nationwide Mortgage Licensing System and Registry as required by Section 180.052 ; and (2) complies with other applicable requirements of Chapter 180 and rules adopted by the finance commission under that chapter. (b) The finance commission may adopt rules under this chapter as required to carry out the intentions of the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (Pub. L. No. 110-289). (c) To be eligible to be licensed as a residential mortgage loan originator, the individual, in addition to meeting the requirements of Subsection (a), must: (1) satisfy the commissioner as to the individual's honesty, trustworthiness, and integrity; (2) not be in violation of this chapter, Chapter 180 , or any rules adopted under this chapter or Chapter 180 ; (3) provide the commissioner with satisfactory evidence that the individual meets the qualifications provided by Chapter 180 ; and (4) be a citizen of the United States or a lawfully admitted alien. (d) Repealed by Acts 2013, 83rd Leg., R.S., Ch. 160, Sec. 87(8), eff. September 1, 2013. (e) In this section, "appropriate entity" means an entity: (1) that is licensed or registered under this chapter or Chapter 156 ; and (2) for which the individual is acting as a residential mortgage loan originator. Reenacted and amended by Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124 ), Sec. 51, eff. September 1, 2011. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004 ), Sec. 58, eff. September 1, 2013. Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004 ), Sec. 59, eff. September 1, 2013. Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004 ), Sec. 87(8), eff. September 1, 2013. Acts 2019, 86th Leg., R.S., Ch. 20 (S.B. 614 ), Sec. 21, eff. September 1, 2019. Acts 2019, 86th Leg., R.S., Ch. 695 (S.B. 2330 ), Sec. 1, eff. November 24, 2019.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.157.012
What does The Texas Constitution § FI.157.012 cover?
Section FI.157.012 ("LICENSE REQUIRED FOR RESIDENTIAL MORTGAGE LOAN ORIGINATORS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.157.012?
A common citation format is "The Texas Constitution § FI.157.012" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.157.012 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
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