Mortgage Regulators
The mortgage industry is regulated by several entities.
| SML | Texas Department of Savings and Mortgage Lending The Texas Department of Savings and Mortgage Lending is the direct regulator of all non-bank Texas mortgage originators. This agency is responsible for issuing the license each year, examining the files and records of mortgage companies and settling complaints filed against licensees. | |
| SML | Select information on the SML website | |
| TFC | Texas Finance Commission - The Finance Commission is the umbrella agency over Texas Savings and Mortgage Lending, Texas Department of Banking and Office of Consumer Credit Commissioner. | |
| NMLS | National Mortgage Licensing System The NMLS is not a regulator per se. They do several things that make them a critical player in the regulation of the mortgage industry. The most obvious role is to maintain and publish the licensing status of all mortgage originators. Consumers and any other party can access information about each licensee, such as: is the license current, have they had any enforcement actions against them, what company do they work for and where they have worked. Internally, they track continuing education, more details about their license status, contact information and information that can be shared with other state licensing agencies, such as criminal records, and credit records. | |
| CFPB | Consumer Financial Protection Bureau - The agency that oversees nearly all of the mortgage related laws and regulations. | |
| CSBS | Conference of State Bank Supervisors - The Agency that oversees the NMLS system. | |
| AARMR | American Association of Residential Mortgage Regulators AARMR is essentially the association of state licensing and regulatory agencies or their trade association. They provide accredidation of state licensing agencies. | |
| FFIEC | Federal Financial Institutions Examination Council | |
| Congress | Texas Members of the US Congress |