Texas Register, Volume 38, Number 27, Pages 4243-4444, July 5, 2013 Page: 4,259
4243-4444 p. ; 28 cm.View a full description of this periodical.
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idence or information, indicating facts which a prudent person would
deem worthy of investigation as a violation of Finance Code, Chapter
156.
(e) A complaint which names a company or sponsored orig-
inator as the subject of the complaint is also a complaint against the
qualifying individual at the time of any alleged violation. The quali-
fying individual of a company is responsible for all acts and conduct
performed by or through the company and is required to fulfill his or
her professional responsibility to the Commissioner and members of
the public.
(f) If the Commissioner determines that a person has violated
the requirements of Finance Code, Chapter 156, this chapter, or any
order pursuant to Finance Code, Chapter 156 or this chapter, the Com-
missioner, after notice and opportunity for hearing, may impose an ad-
ministrative penalty on that person. Such penalties shall not exceed
$25,000 per violation. The amount of the violation is at the Commis-
sioner's discretion. In determining the amount of any administrative
penalty(ies) for any violation(s) of Finance Code, Chapter 156 or this
chapter, the Commissioner shall consider such factors as required by
Finance Code, 156.302.
(g) If the Commissioner has reasonable cause to believe that
a licensee has violated or is about to violate Finance Code, Chapter
156, this chapter, or an order issued pursuant to this chapter, the Com-
missioner may, without notice and hearing, issue an order to cease and
desist a particular action or an order to take affirmative action, or both,
to enforce compliance with Finance Code, Chapter 156 and this chap-
ter. Any such order must contain a reasonably detailed statement of the
facts on which the order is made. If a person against whom an order is
made requests a hearing, the Commissioner shall set and give notice of
a hearing to be held in accordance with this chapter and Government
Code, Chapter 2001. Based on the findings of fact and conclusions of
law, the Commissioner may find by order that a violation has or has not
occurred.
(h) The Commissioner may, after giving notice and an oppor-
tunity for hearing, impose against any person who violates a cease
and desist order, an administrative penalty in an amount not to exceed
$1,000 for each day on which the violation is continuing. In addition
to any other remedy provided for by law, the Commissioner may insti-
tute in District Court for Travis County an action for injunctive relief
and/or to collect the administrative penalty. A bond is not required of
the Commissioner with respect to any request for injunctive relief un-
der this subsection.
(i) The Commissioner may order disciplinary action after no-
tice and opportunity for hearing against a company or an originator if
the Commissioner becomes aware during the term of the license of any
fact that would have been grounds for denial of an original license if
the fact had been known by the Commissioner on the date the license
was issued.
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal author-
ity to adopt.
Filed with the Office of the Secretary of State on June 24, 2013.
TRD-201302632
Caroline C. Jones
General Counsel
Texas Department of Savings and Mortgage Lending
Earliest possible date of adoption: August 4, 2013
For further information, please call: (512) 475-1297
4 4 4CHAPTER 80. TEXAS RESIDENTIAL
MORTGAGE LOAN ORIGINATOR
REGULATIONS
SUBCHAPTER B. LICENSING
7 TAC 80.101, 80.105
(Editor's note: The text of the following sections proposed for repeal
will not be published. The sections may be examined in the offices
of the Texas Department of Savings and Mortgage Lending or in the
Texas Register office, James Earl Rudder Building, 1019 Brazos Street,
Austin, Texas.)
The Finance Commission of Texas proposes the repeal of 7 TAC
Chapter 80, Subchapter B, 80.101, concerning Education Pro-
gram; and 80.105, concerning Request for Criminal History El-
igibility Determination.
In general, the purpose of the repeal is to implement statutory
changes made by the 83rd Legislative Session.
Douglas B. Foster, Commissioner, Texas Department of Savings
and Mortgage Lending, has determined that for the first five-year
period the repeal is in effect, there will be no fiscal implications for
state government or for local government as a result of repealing
these rules.
Commissioner Foster has also determined that for each year of
the first five years the repeal is in effect, the public benefit antic-
ipated as a result of the proposed repeal will be clarification and
implementation of the statute. There will be no effect on individ-
uals required to comply with the repeal as proposed. There will
be no adverse economic effect on small or micro businesses.
Comments on the proposed repeal may be submitted in writing
to Caroline C. Jones, General Counsel, Texas Department of
Savings and Mortgage Lending, 2601 North Lamar, Suite 201,
Austin, Texas 78705; or by email to smlinfo@sml.texas.gov
within 30 days of this publication in the Texas Register.
The repeal is proposed under Finance Code, 156.102, which
grants rulemaking authority to the Finance Commission of Texas.
The statutory provisions affected by the proposed repeal are
contained in Finance Code, Chapters 156 and 180.
80.101. Education Program.
80.105. Request for Criminal History Eligibility Determination.
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal author-
ity to adopt.
Filed with the Office of the Secretary of State on June 24, 2013.
TRD-201302633
Caroline C. Jones
General Counsel
Texas Department of Savings and Mortgage Lending
Earliest possible date of adoption: August 4, 2013
For further information, please call: (512) 475-1297
CHAPTER 81. MORTGAGE BANKERS
AND RESIDENTIAL MORTGAGE LOAN
ORIGINATORSPROPOSED RULES July 5, 2013 38 TexReg 4259
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Texas. Secretary of State. Texas Register, Volume 38, Number 27, Pages 4243-4444, July 5, 2013, periodical, July 5, 2013; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth326801/m1/17/: accessed April 26, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.