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Home > Title 7 > Part 4 > Chapter 59 >Subchapter B > Rule 59.102
TITLE 7 - BANKING AND SECURITIES
PART 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING
CHAPTER 59 - WRAP MORTGAGE LOANS
SUBCHAPTER B - LENDER REQUIREMENTS AND RESPONSIBILITIES
SECTION/RULE §59.102 - Closing Requirements
Chapter Review Date 12/18/2015

(a) Purpose. The purpose of this section is to clarify and establish requirements related to the requirement that a wrap mortgage loan be closed by an attorney or title company, as provided by Finance Code §159.105.(b) Closing by Title Company. For purposes of Finance Code §159.105, a wrap mortgage loan may only be closed by a title company issuing an owner's title insurance policy to the wrap borrower for the residential real estate secured or designed to be secured by the wrap mortgage loan.

Source Note: The provisions of this §59.102 adopted to be effective November 23, 2024, 49 TexReg 9217.

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