Issue Date:
Revised Date: 2014-05-20

Legal Cites

Object Type

Cash — Business Regulation

Origin Date

September 1, 1999 by S.B. 1074, 76th Leg., R.S.

Description

Residential Mortgage Loan Company license and renewal fees in an amount NTE $375. Recovery fund fee of $20.

Residential Mortgage Loan Originator license and renewal fees in an amount NTE $375. Recovery fund fee of $20.

Mortgage Banker registration and administration fee and renewal fee NTE $500 per year.

Additional fees include: Residential mortgage loan company change of address fee is $25; mortgage loan company sponsor of loan originator, a fee of $25; multiple places of business, $50 for each additional license certificate.

Registered Financial Services Company annual registration fee, the lesser of 1/2 of a residential mortgage loan originator fee times the number of agents or $200,000 or more depending on total number of exclusive agents.

Residential Mortgage Loan Originator (annual and renewal) application fees NTE $500; recovery fee NTE $20; reinstatement fee $25; hearing deposit $500; probationary and Provisional licenses set by Commission.

Residential Mortgage Loan Servicers for residential mortgage loan must pay a registration and renewal fee NTE $500 as determined by the Finance Commission.

Administrative penalties collected under Revenue Object 3770.

Due Date

 At the time of application, renewal, or filing.

Deposit Funds

  • Deposited to account in Texas Safekeeping Trust Company.

Note

Added or amended by:
H.B. 1636 and H.B. 1763, 77th Leg., R.S.
S.B. 252, 78th Leg., R.S.
H.B. 2783, 80th Leg., R. S.
H.B. 1716, 80th Leg., R.S.
H.B. 2774, 81st Leg., R.S.

Agency name changed by H.B. 955, 79th Leg., R.S.

Loan servicers added by S.B. 17, 82nd Leg., R.S. 

Amounts were deposited to General Revenue Fund (No. 0001) and the Mortgage Broker Recovery Trust Fund (No. 0848). Effective 9-1-09, H.B. 2774 made the Department of Savings and Mortgage Lending, Agency 450, a semi-independent agency with funds in the Texas Safekeeping Trust Company.

Various titles amended and administrative penalty increased from $2,500 to $5,000 by S.B. 1124, 82nd Leg., R.S.

Amended by S.B. 1004, 83rd Leg., R.S.

USAS Values

Appropriation Year 14
USAS Title PROFESSIONAL FEES
Receipt Category 03 – Business Regulation
Receipt Type 10 – Business/Professional Fees
Object Group 30 – Revenues
USAS Status A
Rev/Exp Category 01 – LICENSES, FEES, FINES, AND PENALTIES