Last Updated on November 17, 2022
Effective November 20, 2022, the Department of Savings and Mortgage Lending adopts a rule (regulation) in 7 Texas Administrative Code Section 79.4, concerning the requirement for a residential mortgage loan servicer to hold a surety bond (Finance Code Section 158.055). In general, the purpose for the rulemaking action is to make changes to render the rule fully compatible with electronic surety bonds, which the Department began accepting on October 1, 2022, in advance of the 2023 registration period.
On and after November 20, 2022, the adopted rule will be reflected on the Texas Secretary of State website. Interested persons may also consult the adopted rules notice published in the Texas Register on November 11, 2022 (link active through November 17, 2022; after November 17, 2022, please consult the Texas Register archives).
