TX 2nd Mortgage Lender License Exempted if You Hold a TX Mortgage Company License

May I ask the TX Office of Consumer Credit Commissioner a question to clarify the license required to make 2nd residential mortgage loans in TX? 

Below the statement in the NMLS says that the new TEXAS SML MORTGAGE COMPANY LICENSE covers residential mortgage loan origination of TX residential mortgage loans which include first lien, second lien, or home equity loans.

My question and confusion: Is a TX Regulated Lender License still required in order to make 2nd mortgage loans at 10% or above interest rate or is this now covered by the TX Mortgage Company License? If the TX Regulated Lender License is now longer required, when does the change become effective?

on the NMLS:  The TEXAS SML MORTGAGE COMPANY LICENSE says:  "Who is required to have this license? Any corporation, company, partnership, or sole proprietorship that engages in the business of residential mortgage loan origination on real property located in Texas. Residential mortgage loans include first lien, second lien, or home equity loans. Title 7 of the Texas Administrative Code, Chapter 80.302(16) defines “Residential Mortgage Loan” as a loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling or on residential real estate whether the property is intended for investment purposes or owner occupancy. It includes new loans and renewals, extensions, modifications, and rearrangements of such loans. The term does not include a loan which is secured by a structure that is suitable for occupancy as a one-to-four family residence, but is used for a commercial purpose such as a professional office, beauty salon, or other non-residential use, and is not used as a residence."

On 5/4/2010, the TX Office of Consumer Credit Commissioner stated that "Under Chapter 342 of the Finance Code, there is a exemption that if you hold a Chapter 156 license you are exempt from Chapter 342."

"Sec. 342.051. LICENSE REQUIRED. ... (f) A mortgage broker licensed under Chapter 156 is

not required to obtain a license under this chapter to make, negotiate, or transact a mortgage

loan, as defined by Chapter 156."