This is a clone of the Texas Administrative Code (TAC) for educational purposes. It is not the official version and should not be used for legal purposes. Site created Wed, 21 May 2025 21:16:38 GMT

TITLE 7 - BANKING AND SECURITIES
PART 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER
CHAPTER 89 - PROPERTY TAX LENDERS
SUBCHAPTER H - PAYOFF STATEMENTS
SECTION/RULE §89.801 - Requests for Payoff Statements
Chapter Review Date 08/20/2021

(a) Scope. This section applies to a request described by Texas Tax Code, §32.06(a-6) that:(1) includes a request for the total payoff amount of a property tax loan;(2) is sent to a property tax lender; and(3) is sent by:(A) the holder of an existing recorded lien on the property subject to the property tax loan; or(B) a mortgage servicer (or another person) on behalf of a lienholder described by subparagraph (A) of this paragraph.(b) Required elements. A request under this section must include:(1) the date of the request;(2) the requested balance date, which must be:(A) no earlier than 7 days after the date of the request; and(B) no later than 30 days after the date of the request;(3) the name and address of the lienholder that is making the request (or on whose behalf the request is made);(4) the name of the property tax lender;(5) the name of the borrower;(6) the address or a legal description of the property subject to the property tax loan;(7) one of the following:(A) the tax account number used by the taxing unit(s);(B) the property identification number used by the taxing unit(s); or(C) the property tax loan number used by the property tax lender;(8) a statement substantially similar to the following: "We (the lienholder) request a statement of the total amount due under the property tax loan on the property listed above, as of the requested balance date. We hold an existing recorded lien on the property.";(9) a valid delivery method by which the property tax lender must deliver the payoff statement. The lienholder must choose only one delivery method, and the delivery method must be one of the following:(A) a mailing address;(B) a fax number; or(C) an e-mail address;(10) a statement certifying the purpose for which the lienholder is requesting the payoff statement, substantially similar to one of the following:(A) "We are requesting a payoff statement for informational purposes under Section 32.06(a-6) of the Texas Tax Code. The payoff statement should be delivered to us within 7 business days of when you receive this request, unless