LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION May 21, 2021 TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB3617 by Anchia (relating to certain qualifications and requirements for residential mortgage loan companies, the investment and use of excess residential mortgage loan originator recovery fund fees, and the creation of the mortgage grant fund; changing a fee.), Committee Report 2nd House, Substituted No fiscal implication to the State is anticipated. The bill would amend the Finance Code as it relates to qualifications and requirements of licensed mortgage companies.It is assumed that any costs associated with the bill's provisions could be absorbed using existing agency resources. The Department of Savings and Mortgage Lending is a self-directed, semi-independent state entity and does not receive appropriated funds and is responsible for funding all direct and indirect operational costs and sets the amount of fees, penalties, charges, and revenues required to cover these costs. Local Government ImpactNo fiscal implication to units of local government is anticipated. Source Agencies: b > td > 450 Dept Savings and Mortgage Lending LBB Staff: b > td > JMc, SZ, EJ, AAL, MB
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
May 21, 2021
TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB3617 by Anchia (relating to certain qualifications and requirements for residential mortgage loan companies, the investment and use of excess residential mortgage loan originator recovery fund fees, and the creation of the mortgage grant fund; changing a fee.), Committee Report 2nd House, Substituted
TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB3617 by Anchia (relating to certain qualifications and requirements for residential mortgage loan companies, the investment and use of excess residential mortgage loan originator recovery fund fees, and the creation of the mortgage grant fund; changing a fee.), Committee Report 2nd House, Substituted
Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HB3617 by Anchia (relating to certain qualifications and requirements for residential mortgage loan companies, the investment and use of excess residential mortgage loan originator recovery fund fees, and the creation of the mortgage grant fund; changing a fee.), Committee Report 2nd House, Substituted
HB3617 by Anchia (relating to certain qualifications and requirements for residential mortgage loan companies, the investment and use of excess residential mortgage loan originator recovery fund fees, and the creation of the mortgage grant fund; changing a fee.), Committee Report 2nd House, Substituted
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend the Finance Code as it relates to qualifications and requirements of licensed mortgage companies.It is assumed that any costs associated with the bill's provisions could be absorbed using existing agency resources. The Department of Savings and Mortgage Lending is a self-directed, semi-independent state entity and does not receive appropriated funds and is responsible for funding all direct and indirect operational costs and sets the amount of fees, penalties, charges, and revenues required to cover these costs.
The bill would amend the Finance Code as it relates to qualifications and requirements of licensed mortgage companies.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 450 Dept Savings and Mortgage Lending
450 Dept Savings and Mortgage Lending
LBB Staff: b > td > JMc, SZ, EJ, AAL, MB
JMc, SZ, EJ, AAL, MB