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Texas Statutes (Last Updated: January 4, 2014) |
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FINANCE CODE |
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Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES |
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Subtitle E. OTHER FINANCIAL BUSINESSES |
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Chapter 156. RESIDENTIAL MORTGAGE LOAN COMPANIES AND RESIDENTIAL MORTGAGE LOAN ORIGINATORS |
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Subchapter C. RESIDENTIAL MORTGAGE LOAN COMPANY AND RESIDENTIAL MORTGAGE LOAN ORIGINATOR LICENSES AND REGISTRATION |
Sec. 156.203. APPLICATION FOR A LICENSE; FEES
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(a) For purposes of this section, an application for a residential mortgage loan company license means an application for:
(1) a mortgage company license;
(2) a credit union subsidiary organization license;
(3) an auxiliary mortgage loan activity company license; or
(4) an independent contractor loan processor or underwriter company license.
(a-1) An application for a residential mortgage loan company license and a residential mortgage loan originator license must be:
(1) in writing;
(2) under oath; and
(3) on the form prescribed by the commissioner.
(a-2) An application for a financial services company registration under Section 156.214 must be:
(1) in writing;
(2) under oath; and
(3) on the form prescribed by the commissioner.
(b) An application for a residential mortgage loan company license must be accompanied by an application fee in an amount determined by the commissioner not to exceed $375.
(c) An application for a residential mortgage loan originator license must be accompanied by:
(1) an application fee in an amount determined by the commissioner not to exceed $375; and
(2) a recovery fund fee as provided by Section 156.502.
(d) An application fee under this section is not refundable and may not be credited or applied to any other fee or indebtedness owed by the person paying the fee.
(e) In addition to the disciplinary action by the commissioner authorized under Section 156.303(a)(7), the commissioner may collect a fee in an amount not to exceed $50 for any returned check or credit card charge back.