Sec. 159.107. WAIVER OR AVOIDANCE PROHIBITED. (a) Any purported waiver of a right of a wrap borrower under this subchapter or purported exemption of a person from liability for a violation of this subchapter is void.
(b) A person who is a party to a residential real estate transaction may not evade the application of this subchapter by any device, subterfuge, or pretense, and any attempt to do so is void and a deceptive trade practice under Subchapter E, Chapter 17, Business & Commerce Code, and is actionable under that subchapter.
Added by Acts 2021, 87th Leg., R.S., Ch. 76 (S.B. 43), Sec. 3, eff. January 1, 2022.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle E - Other Financial Businesses
Chapter 159 - Wrap Mortgage Loan Financing
Subchapter C. Transaction Requirements; Remedies
Section 159.101. Disclosure Statement; Option to Rescind
Section 159.102. Foreign Language Requirement
Section 159.103. Failure to Provide Disclosure: Tolling of Limitations
Section 159.104. Failure to Provide Disclosure Before Closing; Right of Rescission
Section 159.105. Enforceability of Wrap Lien
Section 159.106. Borrower's Right of Action