May 04, 2010

TX Mortgage Company License previously called TX Mortgage Broker License

Recent Changes in TX:

[1] TX has renamed its Mortgage Broker license as "TX Mortgage Company" License

[2] TX has renamed its Loan Officer License as "Mortgage Loan Originator" License

[3] Both the TX Mortgage Company License and the Mortgage Loan Originator License are now on the National Mortgage Licensing System [NMLS] 

[4] The individual Mortgage Broker License has been reduced to an individual being designated the Qualifying Individual who must get a Mortgage Loan Originator License which reduces the education hours from 90 to 20 and from "live" to "online" and eliminates the 3 years of mortgage experience requirement and the Net worth and Surety Bond have been eliminated

[5] The TX physical office requirement remains

May 4, 2010 6:44:04 PM

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