Texas § FI.157.002 - DEFINITIONS
Full text of Texas The Texas Constitution § FI.157.002 — DEFINITIONS, with citation guidance and answers to common questions.
§ FI.157.002. DEFINITIONS
DEFINITIONS. In this chapter: (1) "Commissioner" means the savings and mortgage lending commissioner. (2) "Disciplinary action" means any order by the commissioner that requires one or more of the following: (A) suspension or revocation of a residential mortgage loan originator license under this chapter; (B) probation of a suspension or revocation of a residential mortgage loan originator license under this chapter on terms and conditions that the commissioner determines appropriate; (C) a reprimand of a person with a residential mortgage loan originator license under this chapter; or (D) an administrative penalty imposed on a person holding a residential mortgage loan originator license under this chapter. (3) "Finance commission" means the Finance Commission of Texas. (3-a) "Inspection" includes examination. (4) "Mortgage banker" means a person who: (A) accepts an application for a residential mortgage loan, makes a residential mortgage loan, or services residential mortgage loans; and (B) is an approved or authorized: (i) mortgagee with direct endorsement underwriting authority granted by the United States Department of Housing and Urban Development; (ii) seller or servicer of the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation; or (iii) issuer for the Government National Mortgage Association. (4-a) "Nationwide Mortgage Licensing System and Registry" has the meaning assigned by Section 180.002 . (4-b) "Recovery fund" means the fund established and maintained by the commissioner under Subchapter F , Chapter 156 , and Section 13.016 . (5) "Residential mortgage loan" has the meaning assigned by Section 180.002 . (5-a) "Residential mortgage loan company" has the meaning assigned by Section 156.002 . (6) "Residential mortgage loan originator" has the meaning assigned by Section 180.002 . Added by Acts 2003, 78th Leg., ch. 1301, Sec. 1, eff. Jan. 1, 2004. Amended by: Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167 ), Sec. 6.053, eff. September 1, 2007. Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779 ), Sec. 2, eff. April 1, 2010. Acts 2011, 82nd Leg., R.S., Ch. 588 (S.B. 17 ), Sec. 2, eff. September 1, 2011. Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124 ), Sec. 45, eff. September 1, 2011. Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004 ), Sec. 48, eff. September 1, 2013. SUBCHAPTER B. ADMINISTRATIVE PROVISIONS
Frequently Asked Questions About Texas § FI.157.002
What does The Texas Constitution § FI.157.002 cover?
Section FI.157.002 ("DEFINITIONS") 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.157.002?
A common citation format is "The Texas Constitution § FI.157.002" (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.157.002 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
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.