Are any additional disclosures required under the Texas Mortgage Broker License Act?
At the time an application for a mortgage loan is made to a mortgage broker or loan officer, the mortgage broker or loan officer must provide the mortgage applicant with a disclosure describing their relationship, the duties of the mortgage applicant, and how the mortgage broker or loan officer will be compensated for his or her services. Such disclosures are to be made using forms promulgated by the Commissioner. Such disclosures shall include a statement to the effect that the Texas Department of Savings and Mortgage Lending oversees the enforcement of the Act (including conducting investigations of any complaints) and provide the consumer with a toll-free telephone number for the Department. This promulgated form ma be obtained from 7 TAC Chapter §80.9 Required Disclosures a the Texas Department of Savings and Mortgage Lending. back to top • Does Texas law permit home equity loans and “cash out” refinancing of a first lien loan on homestead property? As of January 1, 1998, Texas law
