Texas HB4738 eliminates the remittance of a portion of certain loan administration fees to the comptroller.

Texas HB4738 amends the Finance Code to eliminate the remittance of a portion of certain loan administration fees to the comptroller. The bill sets the maximum administrative fee at $25 for loans over $1,000 and $20 for loans of $1,000 or less. It specifies that the fee is considered earned when the loan is made or refinanced and is not subject to refund. Additionally, it prohibits lenders from contracting for or receiving an administrative fee for a loan more than once in any 180-day period, with an exception for loans with an interest charge.

Texas HB4738 eliminates the remittance of a portion of certain loan administration fees to the comptroller.

Texas HB4738 amends the Finance Code to eliminate the remittance of a portion of certain loan administration fees to the comptroller. The bill sets the maximum administrative fee at $25 for loans over $1,000 and $20 for loans of $1,000 or less. It specifies that the fee is considered earned when the loan is made or refinanced and is not subject to refund. Additionally, it prohibits lenders from contracting for or receiving an administrative fee for a loan more than once in any 180-day period, with an exception for loans with an interest charge.