Texas Administrative Code
Title 7 - BANKING AND SECURITIES
Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING
Chapter 78 - WRAP MORTGAGE LOANS
Subchapter B - LENDER REQUIREMENTS AND RESPONSIBILITIES
Section 78.102 - Closing Requirements
Universal Citation: 7 TX Admin Code ยง 78.102
Current through Reg. 49, No. 38; September 20, 2024
(a) Purpose. The purpose of this section is to clarify and establish requirements related to the requirement that a wrap mortgage loan be closed by an attorney or title company, as provided by Finance Code § 159.105.
(b) Closing by Title Company. For purposes of Finance Code § 159.105, a wrap mortgage loan may only be closed by a title company issuing an owner's title insurance policy to the wrap borrower for the residential real estate secured or designed to be secured by the wrap mortgage loan.
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