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 State Licensing Requirements

 
Company Licenses Description Requirements Checklist
Auxiliary Mortgage Loan Activity License Any political subdivision of Texas or the federal development doing business in Texas for Texas consumers, or any non-profit organization that qualifies for an exemption from Texas franchise and sales tax as a 501(c)(3) organization, that is involved in affordable home ownership programs including those that provide zero percent interest loans or forgivable down payment assistance loans.
Credit Union Subsidiary Organization License Any agency, association, or company wholly or partly owned by a credit union that is designed primarily to serve or otherwise assist credit union operations that, as part of its services, offers residential mortgage loans to credit union members or the general public through employed residential mortgage loan originators.
Financial Services Company Registration A depository institution exempt from Chapter 156 of the Texas Finance Code that is chartered and regulated by the Office of the Comptroller of the Currency, or a subsidiary of the institution that performs the services of a mortgage company.
Independent Contractor Loan Processor and Underwriter Company License Any corporation, company, partnership, or sole proprietor that receives compensation for an individual performing clerical or support duties as an independent contractor loan processor or underwriter at the direction of a licensed as a residential mortgage loan originator.
Mortgage Banker Registration Any corporation, organization, partnership, association, sole proprietorship or other legal entity that conducts the business of a mortgage banker. A mortgage banker is a person who: (A) accepts an application for a residential mortgage loan, makes a residential mortgage loan, or services residential mortgage loans; and (B) is an approved or authorized: (i) mortgagee with direct endorsement underwriting authority granted by the United States Department of Housing and Urban Development; (ii) seller or servicer of the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation; or (iii) issuer for the Government National Mortgage Association.”
Mortgage Company License Any corporation, company, partnership, or sole proprietorship that engages in the business of residential mortgage loan origination on real property located in Texas.
Residential Mortgage Loan Servicer Registration Any person/entity who: (A) receives scheduled payments from a borrower under the terms of a residential mortgage loan, including amounts for escrow accounts; and (B) makes the payments of principal and interest to the owner of the loan or other third party and makes any other payments with respect to the amount received from the borrower as may be required under the terms of the servicing loan document or servicing contract.
Branch Licenses Description Requirements Checklist
Credit Union Subsidiary Organization Branch License Any office a credit union subsidiary organization maintains that is separate and distinct from its main office, whether located in Texas or not, at which it conducts residential mortgage loan origination business with mortgage applicants or prospective mortgage applicants in Texas or concerning residential real estate in Texas.
Mortgage Banker Branch Registration Any office a mortgage banker maintains that is separate and distinct from its main office, whether located in Texas or not, at which it conducts residential mortgage loan origination business with mortgage applicants or prospective mortgage applicants in Texas or concerning residential real estate located in Texas.
Mortgage Company Branch License Any office a mortgage company maintains that is separate and distinct from its main office, whether located in Texas or not, at which it conducts residential mortgage loan origination business with mortgage applicants or prospective mortgage applicants in Texas or concerning residential real estate located in Texas.
Individual Licenses Description Requirements Checklist
Mortgage Loan Originator License An employee of any corporation, company, partnership, association, or sole proprietorship licensed or registered under Texas Finance Code Chapter 156 or Chapter 157 who takes a residential mortgage loan application, or offers or negotiates terms of a residential mortgage.
 

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