80th Texas Legislature, Regular Session, House Bill 716, Chapter 285 Page: 2 of 12
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H.B. No. 716
1 statement to obtain a home loan.
2 "I/we represent that all statements and representations
3 contained in my/our written home loan application, including
4 statements or representations regarding my/our identity,
5 employment, annual income, and Intent to occupy the
6 residential real property secured by the home loan, are true
7 and correct as of the date of loan closing."
8 (c) On receipt of the notice, the loan applicant shall
9 verify the Information and execute the notice.
10 (d) The failure of a lender, mortgage banker, or licensed
11 mortgage broker to provide a notice complying with this section to
12 each applicant for a home loan does not affect the validity or
13 enforceability of the home loan by any holder of the loan.
14 SECTION 2. Subchapter B, Chapter 402, Government Code, is
15 amended by adding Sections 402.031 and 402.032 to read as follows:
16 Sec. 402.031. REPORTING FRAUDULENT ACTIVITIES. (a) In
17 this section:
18 (1) "Authorized governmental agency" means:
19 (A) the attorney general;
20 (B) a local or state law enforcement agency of
21 this state or a federal law enforcement agency;
22 (C) a prosecuting attorney of the United States
23 or of a county or judicial district of this state; or
24 (D) the Department of Public Safety, the Texas
25 Department of Insurance, the Office of Consumer Credit
26 Commissioner, the Texas Department of Banklng, the credit union
27 department, the Department of Savings and Mortgage Lending, the2
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Texas. Legislature. House of Representatives. 80th Texas Legislature, Regular Session, House Bill 716, Chapter 285, legislative document, June 15, 2007; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth155492/m1/2/: accessed May 1, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.