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TITLE 7BANKING AND SECURITIES
PART 4DEPARTMENT OF SAVINGS AND MORTGAGE LENDING
CHAPTER 78WRAP MORTGAGE LOANS
SUBCHAPTER BLENDER REQUIREMENTS AND RESPONSIBILITIES
RULE §78.102Closing Requirements
(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 §78.102 adopted to be effective January 8, 2022, 46 TexReg 9238

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