Sec. 347.005. FEDERAL RESIDENTIAL MORTGAGE LOANS PROGRAMS. (a) A creditor and consumer may agree to any provision in the credit transaction that is expressly authorized in a program for residential mortgage loans by the United States, including the Office of Thrift Supervision, the Office of the Comptroller of the Currency, or the Department of the Treasury.
(b) If a creditor and consumer agree on an alternative residential mortgage loan from a program described by Subsection (a), the creditor shall comply with all limitations and requirements, including required disclosures, of the regulating entity that relate to the loan.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 347 - Manufactured Home Credit Transactions
Subchapter A. General Provisions
Section 347.001. Legislative Finding
Section 347.003. Bailment or Lease as Credit Transaction
Section 347.004. Compliance With Federal Consumer Credit Protection Act
Section 347.005. Federal Residential Mortgage Loans Programs
Section 347.006. Waiver Not Valid