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House Committee on Financial Institutions - 79th R.S. (2005)

Committee: House Financial Institutions
Title: Interim Report
Library Catalog Title: House Committee on Financial Institutions, Texas House of Representatives interim report, 2006
Subjects: Banks and banking | Consumer Credit Commissioner, Office of | Credit Union Department | Department of Banking, Texas | Finance Commission of Texas | Foreclosures | Fraud | Mortgage brokers | Mortgages | Savings and Loan Department, Texas | Subprime lending |
Library Call Number: L1836.79 F49h
Session: 79th R.S. (2005)
Online version: View report [81 pages  File size: 20,202 kb]
Charges: This report should address the charges below.
1. Examine the feasibility and impact of consolidating the state financial regulatory agencies which include the Office of the Consumer Credit Commissioner, Texas Department of Banking, Department of Savings and Mortgage Lending (formerly Texas Savings and Loan Department) and the Texas Credit Union Department.
2. Evaluate predatory lending practices involved with subprime mortgage lending within the state, primarily in the border counties, including: Study the patterns of mortgage fraud and develop statutory changes to reduce incidences of mortgage fraud and punish violators. Study the relationship between mortgage brokers and residential borrowers including: whether or not the mortgage broker is the agent of the residential borrower: the types of disclosures which should be required; and, the sources and nature of compensation.

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