<<Prev Rule

Texas Administrative Code

Next Rule>>
TITLE 7BANKING AND SECURITIES
PART 5OFFICE OF CONSUMER CREDIT COMMISSIONER
CHAPTER 89PROPERTY TAX LENDERS
SUBCHAPTER EDISCLOSURES
RULE §89.505Requirements for Notice of Delinquency to Transferee

(a) Required elements. If a notice of delinquency under Texas Tax Code, §32.06(f-1) is sent by the mortgage servicer or the holder of the first lien to the transferee of a tax lien, it must contain the following required elements:

  (1) the date of the notice;

  (2) the name of the property owner;

  (3) the address of the property owner;

  (4) the address of the property;

  (5) the legal description of the property;

  (6) the tax account number or property tax loan number;

  (7) the name and address of the mortgage servicer or the first lien holder sending the notice; and

  (8) the sender's relationship to the preexisting lien, and if the sender is not the lien holder, the name and address of the lien holder.

(b) Delivery.

  (1) Timing of delivery. If the mortgage servicer or the holder of the first lien sends a notice of delinquency under Texas Tax Code, §32.06(f-1) to the transferee of a tax lien, it must be sent within 30 days of the 90-day delinquency of the property owner.

  (2) Method of delivery. At a minimum, a notice under this section must be sent by U.S. mail or via facsimile. Mortgage servicers or first lien holders may use certified mail or delivery by a commercial delivery service with tracking abilities.

(c) Verification of delivery. Verification that a notice was sent under this section, at a minimum, must be established by a dated postmark of the U.S. Postal Service or by a dated facsimile confirmation page. Mortgage servicers or first lien holders who use certified mail or a commercial delivery service may verify delivery with a return receipt or tracking receipt.


Source Note: The provisions of this §89.505 adopted to be effective January 3, 2008, 32 TexReg 9944

Link to Texas Secretary of State Home Page | link to Texas Register home page | link to Texas Administrative Code home page | link to Open Meetings home page