Bill Text: TX SB74 | 2025-2026 | 89th Legislature | Introduced

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Bill Title: Relating to an exemption from residential mortgage loan originator licensing requirements.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2025-02-03 - Referred to Business & Commerce [SB74 Detail]

Download: Texas-2025-SB74-Introduced.html

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89R2761 SRA-F
By: Zaffirini S.B. No. 74

A BILL TO BE ENTITLED
AN ACT
relating to an exemption from residential mortgage loan originator
licensing requirements.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 157.0121(b), Finance Code, is amended to
read as follows:
(b) The following individuals are exempt from this chapter:
(1) a registered mortgage loan originator when acting
for:
(A) a depository institution;
(B) a subsidiary of a depository institution that
is:
(i) owned and controlled by the depository
institution; and
(ii) regulated by a federal banking agency;
or
(C) an institution regulated by the Farm Credit
Administration;
(2) an individual who offers or negotiates the terms
of a residential mortgage loan with or on behalf of an immediate
family member of the individual;
(3) a licensed attorney who negotiates the terms of a
residential mortgage loan on behalf of a client as an ancillary
matter to the attorney's representation of the client, unless the
attorney:
(A) takes a residential mortgage loan
application; and
(B) offers or negotiates the terms of a
residential mortgage loan;
(4) an individual who offers or negotiates terms of a
residential mortgage loan secured by a dwelling that serves as the
individual's residence;
(5) any owner of residential real estate who in any
12-consecutive-month period makes no more than three [five]
residential mortgage loans to purchasers of the property for all or
part of the purchase price of the residential real estate against
which the mortgage is secured; and
(6) an individual who is exempt as provided by Section
180.003(b).
SECTION 2. This Act takes effect September 1, 2025.