Texas Finance Code 157.013 – Application for License; Fees
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(a) An application for a residential mortgage loan originator license must be:
(1) in writing;
(2) under oath; and
(3) on the form prescribed by the commissioner.
(b) An application for a residential mortgage loan originator license must be accompanied by:
(1) an application fee in an amount determined by the commissioner, not to exceed $500; and
(2) for an original license, a recovery fund fee in the amount of $20.
Terms Used In Texas Finance Code 157.013
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) An application fee under this section is not refundable and may not be credited or applied to any other fee or indebtedness owed by the person paying the fee.
(d) In addition to the disciplinary action by the commissioner authorized under § 157.024(a)(6), the commissioner may collect a fee in an amount not to exceed $50 for any returned check or credit card charge back.