H.B. No. 3342
AN ACT
relating to the prelicensing education requirements for
residential mortgage loan originators.
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 the 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 January 1, 2018.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 3342 was passed by the House on May 4,
2017, by the following vote: Yeas 143, Nays 0, 2 present, not
voting; and that the House concurred in Senate amendments to H.B.
No. 3342 on May 26, 2017, by the following vote: Yeas 144, Nays 0,
2 present, not voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 3342 was passed by the Senate, with
amendments, on May 24, 2017, by the following vote: Yeas 31, Nays
0.
______________________________
Secretary of the Senate
APPROVED: __________________
Date
__________________
Governor