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TX-SML licenses mortgage companies under Finance Code chapter 156 through NMLS: $325 to apply, no company surety bond, no minimum net worth, and reinstatement open through February.
Licences
| Licence | Covers | Bond | Net worth |
|---|---|---|---|
| Mortgage Company License | Acting as a residential mortgage loan company in Texas: taking loan applications, or offering or negotiating loan terms, on Texas real property. | None | None |
"None" is a finding read from the statute, not missing data.
State rules
- Regulator
- Texas Department of Savings and Mortgage Lending. Filings run through NMLS.
- Renewal
- Expires 31 December. Texas uses the NMLS renewal window, 1 November to 31 December, and sets no earlier date. Fee $275. Tex. Fin. Code § 156.2081
- Missing the deadline
- Reinstatement runs 1 January to the end of February at $412.50, 150 percent of the renewal fee. After that, the only route back is a new application at $325. Tex. Fin. Code § 156.2081
- In-state office
- No office in Texas is required. The branch rule is activity-based: an office is a Texas branch if Texas mortgage business happens there, "whether located in this state or not". Repealed 2021. Pages listing Texas among the in-state office states describe law no longer in force. 7 Tex. Admin. Code § 56.206(a)(2)
- Branches
- Each branch files its own MU3 at $50, and a branch location change is $25. An office counts as a Texas branch by what it does, wherever it sits. 7 Tex. Admin. Code § 56.206(a)(2)
- Change of control
- No prior approval: neither "change of control" nor "change in control" appears in chapter 156, and the nearest provision, § 156.211, reaches address, assumed name, legal name and the qualifying individual, not ownership. The rules’ 10 percent line is definitional, deciding who files an individual form rather than giving the state a veto; that filing is an after-the-fact amendment within ten days. 7 Tex. Admin. Code § 56.2(4)
- Mortgage call report
- Filed through NMLS on the national quarterly and annual cycle; Texas sets no deadline of its own. It gates the exit too: the Department will not accept a surrender from a company behind on call reports. Texas Department of Savings and Mortgage Lending
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Texas licences
Other states
Read from Texas's statute and rules on August 25, 2026. Corrections to licensing@payna.com.
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