By: Parker H.B. No. 3342
A BILL TO BE ENTITLED
AN ACT
relating to prelicensing education requirements for a residential
mortgage loan originator license.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 180.056(h), Finance Code, is amended to
read as follows:
(h) An individual who fails to maintain a residential
mortgage loan originator license for a period of time established
by rule of the rulemaking authority [at least five consecutive
years] must retake the prelicensing education requirements
prescribed by the S.A.F.E. Mortgage Licensing Act.
SECTION 2. This Act takes effect September 7, 2017.