Texas § FI.157.0021 - DISCLOSURE STATEMENT
Full text of Texas The Texas Constitution § FI.157.0021 — DISCLOSURE STATEMENT, with citation guidance and answers to common questions.
§ FI.157.0021. DISCLOSURE STATEMENT
DISCLOSURE STATEMENT. (a) A mortgage banker that is a residential mortgage loan originator shall include a notice to a residential mortgage loan applicant with an application for a residential mortgage loan. The finance commission by rule shall adopt a standard disclosure form to be used by the mortgage banker. The form must: (1) include the name, address, and toll-free telephone number for the Department of Savings and Mortgage Lending; (2) contain information on how to file a complaint or recovery fund claim; and (3) prescribe a method for proof of delivery to the consumer. (b) A mortgage banker that indicates in its registration that it acts as a residential mortgage loan servicer shall provide to the borrower of each residential mortgage loan it services the following notice not later than the 30th day after the date the mortgage banker commences servicing the loan: "COMPLAINTS REGARDING THE SERVICING OF YOUR MORTGAGE SHOULD BE SENT TO THE DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, ______________________________ (street address of the Department of Savings and Mortgage Lending). A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT _______________ (telephone number of the Department of Savings and Mortgage Lending's toll-free consumer hotline)." 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. 6.054, eff. September 1, 2007. Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779 ), Sec. 5, eff. April 1, 2010. Acts 2011, 82nd Leg., R.S., Ch. 588 (S.B. 17 ), Sec. 4, eff. September 1, 2011. Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124 ), Sec. 50, eff. September 1, 2011. Transferred and redesignated from Finance Code, Section 157.007 by Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004 ), Sec. 54, eff. September 1, 2013.
Frequently Asked Questions About Texas § FI.157.0021
What does The Texas Constitution § FI.157.0021 cover?
Section FI.157.0021 ("DISCLOSURE STATEMENT") 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.157.0021?
A common citation format is "The Texas Constitution § FI.157.0021" (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.157.0021 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.