LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION May 26, 2021 TO: Honorable Dade Phelan, Speaker of the House, House of Representatives 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.), As Passed 2nd House 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 as well as the creation and utilization of certain funds.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, LBO, EJ, SZ, AAL, MB
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
May 26, 2021
TO: Honorable Dade Phelan, Speaker of the House, House of Representatives 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.), As Passed 2nd House
TO: Honorable Dade Phelan, Speaker of the House, House of Representatives
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.), As Passed 2nd House
Honorable Dade Phelan, Speaker of the House, House of Representatives
Honorable Dade Phelan, Speaker of the House, House of Representatives
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.), As Passed 2nd House
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.), As Passed 2nd House
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 as well as the creation and utilization of certain funds.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 as well as the creation and utilization of certain funds.
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, LBO, EJ, SZ, AAL, MB
JMc, LBO, EJ, SZ, AAL, MB