Exempts certain property owners from regulatory requirements for residential mortgage loan originators.
This bill amends the Finance Code to exempt certain property owners from regulatory requirements for residential mortgage loan originators. Specifically, it exempts owners of residential real estate who make no more than three residential mortgage loans per year to purchasers of the property. It also exempts owners of a dwelling who make no more than three residential mortgage loans per year to purchasers of the dwelling. The bill takes effect September 1, 2025.
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