Last Updated on August 21, 2023
On August 18, 2023, the Finance Commission of Texas approved the Department’s FY24 budget. The budget includes the following licensing/registration fee increases:
- Mortgage Loan Originator new application fee from $70 to $100 (plus a $20 recovery fee);
- Mortgage Loan Originator renewal fee from $50 to $70;
- Mortgage Company new application fee from $200 to $300;
- Mortgage Company renewal fee from $150 to $250;
- Credit Union Subsidiary Organization new application fee from $200 to $300;
- Credit Union Subsidiary Organization renewal fee from $150 to $250;
- Independent Contractor Loan Processor and Underwriter Company new application fee from $200 to $300; and
- Independent Contractor Loan Processor and Underwriter Company renewal fee from $150 to $250
The fee increases will be effective November 1, 2023.
Over the past two years, the Department has seen a 74% increase in the number of licensed mortgage companies. In order to maintain appropriate examination frequency, issue examination reports, investigate complaints, and process enforcement actions promptly, the Department is adding additional staff including two Financial Examiners, one Administrative Assistant, one Investigator, and one Legal Assistant.
The Department’s licensing/registration fees remain one of the lowest in the United States.
