Texas Adopts Mortgage Lending Provisions

Texas has adopted provisions related to mortgage lending. These provisions are effective as of January 7, 2018.


The first adopted provision concerns a licensing exemption for individuals or corporations conducting depository agent services. A person or corporation under written contact with the comptroller to operate the depository, who acts only within the scope of authority conferred therein, is not required to be licensed.


The definition of “physical office” as applied under these provisions has been simplified to mean “an actual office where the business of mortgage lending and/or the business of taking or soliciting residential mortgage loan applications are conducted.”

The more detailed definition of “physical office” is now included for these provisions. The characteristics of a physical office under this section include a physical or street address, accessibility by the general public, the posting of business hours, and the presence of at least one staff member to a

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Elizabeth Dailey, JD, is a regulatory compliance consultant with Bankers Advisory. She is a graduate of the University of New Hampshire and earned her juris doctor at New England Law. She is admitted to the Massachusetts Bar.

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