{"data":{"id":"us-tx/tex.-finance-code-180.153","jurisdiction":"us-tx","citation":"Tex. Finance Code § 180.153","heading":"PROHIBITED ACTS AND PRACTICES.","body":"An individual or other person subject to regulation under this chapter may not:\n(1) employ, directly or indirectly, a scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud a person;\n(2) engage in an unfair or deceptive practice toward a person;\n(3) obtain property by fraud or misrepresentation;\n(4) solicit or enter into a contract with a borrower that provides in substance that the individual or other person subject to this chapter may earn a fee or commission through \"best efforts\" to obtain a loan even though no loan was actually obtained for the borrower;\n(5) solicit, advertise, or enter into a contract for specific interest rates, points, or other financing terms unless the terms are actually available at the time of soliciting, advertising, or contracting;\n(6) conduct any business regulated by this chapter without holding a license as required by this chapter;\n(7) assist, aid, or abet an individual in the conduct of business without a license required by this chapter;\n(8) fail to make disclosures as required by this chapter and any other applicable state or federal law, including rules or regulations under applicable state or federal law;\n(9) fail to comply with this chapter or rules adopted under this chapter;\n(10) fail to comply with any other state or federal law, including rules or regulations adopted under that law, applicable to a business or activity regulated by this chapter;\n(11) make, in any manner, a false or deceptive statement or representation;\n(12) negligently make a false statement or knowingly or wilfully make an omission of material fact in connection with:\n(A) information or a report filed with a governmental agency or the Nationwide Mortgage Licensing System and Registry; or\n(B) an investigation conducted by the regulatory official or another governmental agency;\n(13) make a payment, threat, or promise, directly or indirectly, to a person for purposes of influencing the person's independent judgment in connection with a residential mortgage loan, or make a payment, threat, or promise, directly or indirectly, to an appraiser of property, for purposes of influencing the appraiser's independent judgment with respect to the property's value;\n(14) collect, charge, attempt to collect or charge, or use or propose an agreement purporting to collect or charge a fee prohibited by this chapter;\n(15) cause or require a borrower to obtain property insurance coverage in an amount that exceeds the replacement cost of the improvements as established by the property insurer; or\n(16) fail to truthfully account for money belonging to a party to a residential mortgage loan transaction.\nAdded by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 1, eff. June 19, 2009.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE E. OTHER FINANCIAL BUSINESSES","CHAPTER 180. RESIDENTIAL MORTGAGE LOAN ORIGINATORS","SUBCHAPTER D. BUSINESS PRACTICES; PROHIBITED ACTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.180.htm#180.153","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"4178b164f55d91099121548f976e7318f34c63ecfa5a868639b599cb110f5a57","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-180.152","next":"us-tx/tex.-finance-code-180.171"},"notice":"GroundRules: Original legal text. Not legal advice."}