(a) To be issued a mortgage company license, an applicant must:
(1) submit a completed application together with the payment of applicable fees through the Nationwide Mortgage Licensing System and Registry;
(2) designate control persons for the mortgage company through the Nationwide Mortgage Licensing System and Registry;
(3) designate an individual licensed as a residential mortgage loan originator under Chapter 157 as the company's qualifying individual;
(4) submit a completed branch application through the Nationwide Mortgage Licensing System and Registry for each branch office that engages in residential mortgage loan activity on residential real estate located in this state;
(5) not be in violation of this chapter, a rule adopted under this chapter, or any order previously issued by the commissioner to the applicant;
(6) have the company name or assumed name properly filed with either the secretary of state or with the appropriate county clerk's office; and
(7) provide financial statements and any other information required by the commissioner.
(b) Repealed by Acts 2013, 83rd Leg., R.S., Ch. 160, Sec. 87(5), eff. September 1, 2013.
Official text of the Texas Finance Code as published by the Texas Legislative Council.