Texas Statutes (Last Updated: January 4, 2014) |
PROPERTY CODE |
Title 5. EXEMPT PROPERTY AND LIENS |
Subtitle B. LIENS |
Chapter 51. PROVISIONS GENERALLY APPLICABLE TO LIENS |
Sec. 51.0025. ADMINISTRATION OF FORECLOSURE BY MORTGAGE SERVICER
Latest version.
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A mortgage servicer may administer the foreclosure of property under Section 51.002 on behalf of a mortgagee if:
(1) the mortgage servicer and the mortgagee have entered into an agreement granting the current mortgage servicer authority to service the mortgage; and
(2) the notices required under Section 51.002(b) disclose that the mortgage servicer is representing the mortgagee under a servicing agreement with the mortgagee and the name of the mortgagee and:
(A) the address of the mortgagee; or
(B) the address of the mortgage servicer, if there is an agreement granting a mortgage servicer the authority to service the mortgage.
Added by Acts 2003, 78th Leg., ch. 554, Sec. 1, eff. Jan. 1, 2004. Amended by: Acts 2005, 79th Leg., Ch. 555 , Sec. 2, eff. September 1, 2005.