# Tex. Finance Code § 180.055: ISSUANCE OF LICENSE

> Texas · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.055

## Section

- **Citation:** Tex. Finance Code § 180.055
- **Heading:** ISSUANCE OF LICENSE
- **Jurisdiction:** Texas
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** TX Code / Code fi / Chapter 180 / Section 180.055

## Text

(a) The regulatory official may not issue a residential mortgage loan originator license to an individual unless the regulatory official determines, at a minimum, that the applicant:

(1) has not had a residential mortgage loan originator license revoked in any governmental jurisdiction;

(2) has not been convicted of, or pled guilty or nolo contendere to, a felony in a domestic, foreign, or military court:

(A) during the seven-year period preceding the date of application; or

(B) at any time preceding the date of application, if the felony involved an act of fraud, dishonesty, breach of trust, or money laundering;

(3) demonstrates financial responsibility, character, and general fitness so as to command the confidence of the community and to warrant a determination that the individual will operate honestly, fairly, and efficiently as a residential mortgage loan originator within the purposes of this chapter and any other appropriate regulatory law of this state;

(4) provides satisfactory evidence that the applicant has completed prelicensing education courses described by Section 180.056;

(5) provides satisfactory evidence of having passed a written test that meets the requirements of Section 180.057; and

(6) has paid a recovery fund fee or obtained a surety bond as required under the appropriate state regulatory law.

(b) A revocation that has been formally vacated may not be considered a license revocation for purposes of Subsection (a)(1).

(c) A conviction for which a full pardon has been granted may not be considered a conviction for purposes of Subsection (a)(2).

(d) For purposes of Subsection (a)(3), an individual is considered not to be financially responsible if the individual has shown a lack of regard in managing the individual's own financial affairs or condition. A determination that an individual has not shown financial responsibility may not be based on the individual's default on a student loan but may include:

(1) an outstanding judgment against the individual, other than a judgment imposed solely as a result of medical expenses;

(2) an outstanding tax lien or other governmental liens and filings;

(3) a foreclosure during the three-year period preceding the date of the license application; and

(4) a pattern of seriously delinquent accounts, other than student loan accounts, during the three-year period preceding the date of the application.

## Nearby sections

- [Tex. Finance Code § 180.001 § 180.001. SHORT TITLE.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.001.md)
- [Tex. Finance Code § 180.002 § 180.002. DEFINITIONS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.002.md)
- [Tex. Finance Code § 180.003 § 180.003. EXEMPTION.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.003.md)
- [Tex. Finance Code § 180.004 § 180.004. ADMINISTRATIVE AUTHORITY; RULEMAKING.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.004.md)
- [Tex. Finance Code § 180.005 § 180.005. SEVERABILITY.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.005.md)
- [Tex. Finance Code § 180.051 § 180.051. STATE LICENSE REQUIRED; RENEWAL.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.051.md)
- [Tex. Finance Code § 180.052 § 180.052. ENROLLMENT OR REGISTRATION WITH NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.052.md)
- [Tex. Finance Code § 180.053 § 180.053. APPLICATION FORM.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.053.md)
- [Tex. Finance Code § 180.054 § 180.054. CRIMINAL AND OTHER BACKGROUND CHECKS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.054.md)
- [Tex. Finance Code § 180.055 § 180.055. ISSUANCE OF LICENSE.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.055.md)
- [Tex. Finance Code § 180.056 § 180.056. PRELICENSING EDUCATIONAL COURSES.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.056.md)
- [Tex. Finance Code § 180.057 § 180.057. TESTING REQUIREMENTS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.057.md)
- [Tex. Finance Code § 180.058 § 180.058. RECOVERY FUND FEE OR SURETY BOND REQUIREMENT.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.058.md)
- [Tex. Finance Code § 180.059 § 180.059. STANDARDS FOR LICENSE RENEWAL.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.059.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C180_S180.055. Check the current official text before relying on it. Not legal advice.