Texas Register, Volume 37, Number 18, Pages 3247-3480, May 04, 2012 Page: 3,311
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deem worthy of investigation as a violation of Finance Code, Chapter
157.
,81.302. Hearings and Appeals.
(a) Hearings are to be conducted in accordance with Chapter 9
of this title including, but not limited to motions for rehearing, notices
of appeal, and applications for review. All such hearings shall, unless
specifically authorized by the Commissioner, be conducted in Austin,
Travis County, Texas. All appeals of decisions of the Commissioner
shall be made to the State District Court in Travis County, Texas. Such
rules, as set forth in Chapter 9 of this title are incorporated herein by
reference for all purposes.
(b) If a person against whom an order is made requires a hear-
ing, the Commissioner shall set and give notice of a hearing before the
Commissioner or a hearings officer. The hearing shall be governed by
Government Code, Chapter 2001. Based on the findings of fact, con-
clusions of law, and any recommendations of the hearings officer, the
Commissioner shall, by order, find that a violation has or has not oc-
curred.
(c) Appeals of an order denying an application or the renewal
of a license must be properly requested within ten calendar days of the
date on which the initial order is received. All other appeals must be
properly requested within thirty days of the date on which the initial
order is issued. Any order not properly appealed by the applicable
deadline becomes final and cannot be appealed with no further action
by the Commissioner.
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 April 20, 2012.
TRD-201202036
Caroline C. Jones
General Counsel
Texas Department of Savings and Mortgage Lending
Earliest possible date of adoption: June 3, 2012
For further information, please call: (512) 475-1297
4 4 4PART 5.
CREDITOFFICE OF CONSUMER
COMMISSIONERCHAPTER 89. PROPERTY TAX LENDERS
The Finance Commission of Texas (commission) proposes
amendments to 7 TAC Chapter 89, 89.204, 89.205, 89.301
- 89.304, 89.306 - 89.310, 89.405 - 89.407, 89.409, 89.504,
89.602, 89.701, and 89.702, concerning Property Tax Lenders.
The proposed amendments affect rules contained in Subchapter
B, concerning Authorized Activities; Subchapter C, concerning
Application Procedures; Subchapter D, concerning License;
Subchapter E, concerning Disclosures; Subchapter F, concern-
ing Costs and Fees; and Subchapter G, concerning Transfer of
Tax Lien. The commission also proposes new 89.207, con-
cerning Files and Records Required; and 89.312, concerning
Property Tax Employee License Under Nationwide Mortgage
Licensing System and Registry. Additionally, the agency is
developing a proposal related to maximum interest charges and
fees for closing costs to be presented at a future meeting.The majority of the rules in Chapter 89 are being amended. Any
Chapter 89 rule not included in this proposal will be maintained
in its current form.
In general, the purpose of the amendments and new rules re-
garding 7 TAC Chapter 89 is to implement changes resulting
from the commission's review of Chapter 89 under Texas Gov-
ernment Code, 2001.039. The notice of intention to review 7
TAC Chapter 89 was published in the March 16, 2012, issue of
the Texas Register (37 TexReg 1917). The agency did not re-
ceive any comments on the notice of intention to review. The
agency circulated an early draft of these proposed changes to
interested stakeholders and has incorporated several changes
suggested by stakeholders.
Most of the changes are technical in nature and relate to im-
provements in consistency, grammar, punctuation, capitaliza-
tion, and formatting. Additional changes provide clarification,
more precise legal citations, and improved internal regulation
references. These technical corrections have been modeled af-
ter improvements made during the rule review of Chapter 83,
Subchapter A, Rules for Regulated Lenders, as the property tax
lender statute and rules were both patterned after their regulated
lender counterparts. There are, however, two proposed new
sections, existing sections with proposed new substantive lan-
guage, and some significant formatting amendments. The new
language is generally intended to address issues discovered
during the examination process. The major formatting changes
serve to implement streamlining improvements in the licensing
process similar to those used for the newly licensed credit ac-
cess businesses.
The individual purposes of the amended and new rules are pro-
vided in the following paragraphs. Specific explanation is in-
cluded with regard to new rules, new substantive language, sub-
stantive changes in language, and significant formatting amend-
ments. The remaining changes throughout all sections consist
of minor technical revisions and will be summarized more gen-
erally.
Concerning technical corrections in 89.204, the title of Texas
Finance Code, Chapter 351, along with the short title and cita-
tion have been removed from 89.204(a). When Chapter 89 was
first adopted, this language was needed in order to distinguish
the chapter regarding property tax lenders from another chap-
ter with an identical number. The legislature has since corrected
the duplicate numbering and hence made this language unnec-
essary. Similar deletions of these references occur throughout
the rules. In addition, technical corrections have been made in
89.204 to provide parallel formatting.
The title to 89.205 has been amended by adding the words
"and Internet" after "Loans by Mail." This section currently con-
tains subsection (c), which states: "a loan made, negotiated, ar-
ranged, or collected by or through the Internet is considered a
'loan by mail."' The "Internet" reference in the title is intended to
assist Internet lenders in locating this regulation with more ease.
In addition, 89.205 includes revisions related to parallel format-
ting and the removal of unnecessary Chapter 351 descriptors,
as explained in the preceding paragraph.
Section 89.207, Files and Records Required, is a proposed new
rule outlining the recordkeeping requirements for property tax
lenders. These records must be maintained and made avail-
able for examination in compliance with Texas Finance Code,
351.008. Proposed 89.207 includes language throughout al-
lowing for the use of paper or manual, electronic, optically im-PROPOSED RULES May 4, 2012 37 TexReg 3311
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Texas. Secretary of State. Texas Register, Volume 37, Number 18, Pages 3247-3480, May 04, 2012, periodical, May 4, 2012; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth243947/m1/64/?q=32+TexReg+3206: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.