These two documents are provided pursuant to the provisions of Tex. Fin. Code Ann. § 156.105 and 7 Tex. Admin. Code § 80.201. Form A is provided in cases where a borrower is conditionally qualified for a loan. Form B is provided when a loan application is approved on the basis of the borrower’s credit worthiness, but not on collateral.
These forms are required to be given by mortgage loan companies registered or licensed under the Mortgage Loan Company Licensing and Registration Act (Chapter 156, Texas Finance Code) and loan originators sponsored by such. Both of these forms are published within Texas’ administrative code, as well as on the Texas Department of Savings and Mortgage Lending’s website (http://www.sml.texas.gov/ResidentialMortgageLoanOriginator/rmlo_mb_forms.html). Cx16683 and 16685 are near duplicates of these forms, with minor alterations due to formatting errors in the published forms.
39 Tex. Reg. 3392 (April 25, 2014) enacted proposed modifications to these forms, as published in Ibid. 1562 (March 7, 2014). These modifications are minor in nature and are meant to correct the errors in the current forms. Due to this enactment, we will be updating Cx16683 and 16685 to match the model forms, as published in the Texas Register.
These changes will take effect on May 14, 2014. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
May 7, 2014