Texas § FI.64.002 - CONTENT OF RULES

§ FI.64.002. CONTENT OF RULES

CONTENT OF RULES. Rules adopted under this subchapter may include provisions governing: (1) types of loans an association may originate, make, or sell; (2) conditions under which an association may originate, make, or sell a loan; (3) conditions under which an association may purchase or participate in a loan made by another lender; (4) conditions for servicing a loan for another lender; (5) conditions under which an association may lend money on the security of a loan made by another lender; (6) conditions under which an association may pledge a loan held by the association as collateral for money borrowed by the association; (7) conditions under which an association may invest in securities and debt instruments; (8) documentation that an association must have in the association's loan files when the association funds, purchases, or participates in a loan; (9) the form and content of statements of expenses, fees, and other charges paid, or required to be paid, by a borrower; (10) title information required to be maintained in force; (11) insurance coverage required to be provided by a borrower for property that secures a loan; (12) appraisal reports; (13) financial statements of borrowers; (14) fees or other compensation that may be paid to an officer, director, employee, affiliated person, consultant, or third party in connection with procuring a loan for an association; (15) conditions under which an association may advance money to pay taxes, assessments, insurance premiums, and similar charges for the protection of the association's interest in property securing a loan; (16) terms under which an association may acquire and deal in real property; (17) valuation on an association's books of real property held by the association; (18) terms governing an association's investment in a subsidiary corporation; (19) powers that may be exercised by a subsidiary of an association; and (20) any other matter necessary for proper administration of transactions conducted by an association. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.