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 in a 12-month period. The bill also outlines the requirements for entities to register as a registered financial services company, including being a depository institution and providing a business plan. The changes take effect September 1, 2025.
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