We are a bank in Idaho, but one of our lenders has the opportunity to do a home loan on a property in Texas. I know there are some unusual mortgage laws in Texas, so I'm looking for some help with a few questions. If it matters, it is a home purchase loan to a married couple.

Are there any licensing requirements to do mortgage loans in Texas other than NMLS?
I've heard of "homestead" laws in Texas. Would those apply to this situation?
Anything else that would not allow us to do this loan?

Thanks for the help!

I am not aware of any special licensing as long as you are a State or Federal chartered financial institution. The homestead laws only come into play if they already own the property and not purchase transactions. As long as you have access to the TX State specific disclosure requirements and forms, you should be fine.

Thanks Randy!

Please make sure that you have a Texas attorney assist in the preparation of the documents that affect title to real property. To do otherwise would subject your company to the unauthorized practice of law in Texas.

Anyone have a link to the state specific requirements?