SB 74

relating to an exemption from residential mortgage loan originator
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1.  Section 157.0121(b), Finance Code, is amended to
(b)  The following individuals are exempt from this chapter:
(1)  a registered mortgage loan originator when acting
(B)  a subsidiary of a depository institution that
(i)  owned and controlled by the depository
(ii)  regulated by a federal banking agency;
(C)  an institution regulated by the Farm Credit
(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
(A)  takes a residential mortgage loan
(B)  offers or negotiates the terms of a
(4)  an individual who offers or negotiates terms of a
residential mortgage loan secured by a dwelling that serves as the
(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
SECTION 2.  This Act takes effect September 1, 2025.