7 TAC § 56.1. Purpose and Applicability
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Texas Administrative Code › Title 7 BANKING AND SECURITIES › Part 4 DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 56 RESIDENTIAL MORTGAGE LOAN COMPANIES › 7 TAC § 56.1
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This chapter governs SML's administration and enforcement of Finance Code Chapter 156, the Residential Mortgage Loan Company Licensing and Registration Act (other than Subchapters F and G), concerning the licensing, registration, and operations of mortgage companies, financial services companies, credit union subsidiary organizations, auxiliary mortgage loan activity companies, and independent contractor loan processor or underwriter companies (each a residential mortgage loan company). This chapter applies to persons licensed by SML as a residential mortgage loan company or those required to be licensed. Pursuant to Finance Code §156.2012(d) a person registered with SML as a financial services company is subject to the requirements of this chapter as if the company were licensed by SML as a residential mortgage loan company and the rules in this chapter must be construed accordingly.
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