Exemptions to the Mortgage Banker Registration Act
Sec. 157.004. EXEMPTIONS. This chapter does not apply to:
(1) a federally insured bank, savings bank, savings and loan association, Farm Credit System Institution, or credit union;
(2) an affiliate or subsidiary of a federally insured bank, savings bank, savings and loan association, Farm Credit System Institution, or credit union;
(3) a person licensed as a mortgage broker under Chapter 156; or
(4) an authorized lender licensed under Chapter 342 if:
(A) the authorized lender includes with an application for a mortgage loan a notice that is substantially similar to the notice required by Section 157.007 and provides the method of submitting complaints to the consumer credit commissioner;
(B) the authorized lender uses the forms adopted by the Finance Commission of Texas under Section 157.011(b); and
(C) the Finance Commission of Texas determines by rule that the consumer credit commissioner may suspend or revoke a license issued under Chapter 342 if the authorized lender engages in unlawful or unfair practices while making a mortgage loan.
