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The Law Offices of Alan Abergel, P.C. (“LOAA”) provides legal services to mortgage lenders, mortgage companies, mortgage bankers, brokers, and mortgage loan originators regarding Texas mortgage licensing, regulatory compliance, and enforcement defense.
Attorney Alan Abergel is licensed by both the State Bar of Texas and the State Bar of California.
Unless exempt, any corporation, partnership, company, or sole proprietorship that engages in residential mortgage loan origination on real property located in Texas must obtain a Texas Mortgage Company License from the Texas Department of Savings and Mortgage Lending (SML).
Residential mortgage loans include:
First lien mortgages
Second lien mortgages
Home equity loans
Under Title 7, Texas Administrative Code § 80.302(16), a residential mortgage loan is a loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other security interest in residential real estate. This includes:
New loans
Renewals and extensions
Modifications and rearrangements
Loans secured by residential structures used solely for commercial purposes (e.g., professional offices or retail businesses) are excluded.
See also FAQs Concerning Review of Criminal Background to Determine Effect on Licensing
Unless exempt, any entity that accepts residential mortgage loan applications or negotiates residential mortgage loan terms for compensation must obtain a Texas Mortgage Banker Registration under Texas Finance Code Chapter 157.
A Mortgage Banker is a person or entity that:
Accepts applications for residential mortgage loans, or
Makes residential mortgage loans, and
Is approved or authorized by:
HUD as a direct endorsement mortgagee
Fannie Mae or Freddie Mac as a seller/servicer
Ginnie Mae as an issuer
LOAA provides comprehensive licensing and compliance services to Texas mortgage lenders and brokers, including:
Assistance with obtaining a Texas Mortgage Company License
Assistance with obtaining a Texas Mortgage Banker Registration
NMLS registration and compliance for mortgage companies, brokers, and mortgage loan originators
Legal opinions regarding licensing requirements. LOAA provides legal opinions to individuals and businesses that need a legal analysis of whether their activities require a Texas financial regulation license and which one and under which classification. These opinions involve a detailed examination of the services provided, the compensation structure, the relationship between the service provider and the customer, and the specific statutory definitions and exemptions. A well-reasoned legal opinion provides the client with a documented basis for its compliance position and can serve as evidence of good faith in the event of a future Texas agency regulatory inquiry about whether the client's activities constitute unlicensed practice.
See also FAQs Concerning Review of Criminal Background to Determine Effect on Licensing
LOAA advises mortgage industry clients on compliance with Texas and federal mortgage lending laws, including:
Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act)
Real Estate Settlement Procedures Act (RESPA)
Truth in Lending Act (TILA) and Regulation Z
Equal Credit Opportunity Act (ECOA)
Gramm-Leach-Bliley Act (GLBA)
Texas Secure and Fair Enforcement for Mortgage Licensing Act of 2009
Residential Mortgage Loan Company & Residential Mortgage Loan Originator Licensing & Registration Act
Mortgage Banker Registration & Residential Mortgage Loan Originator License Act
LOAA represents mortgage lenders and financial institutions in:
Drafting mortgage loan documents and disclosures
Secured and unsecured lending documentation
Mortgage broker and lender agreements
Compliance policies and procedures for mortgage companies
Representation of private and hard money lenders and carryback sellers
LOAA represents mortgage lenders, brokers, and mortgage loan originators in:
Texas SML investigations and administrative hearings
Appeals of SML final orders to the Travis County District Court
Representation before the Consumer Financial Protection Bureau (CFPB)
Regulatory enforcement defense for mortgage licensing violations
LOAA provides administrative, civil, compliance, and transactional legal services for mortgage lenders and brokers.
No criminal defense services are provided.
“I engaged Alan to help me through the complexities of obtaining my Lenders License. He was very knowledgeable about the process and provided me with a high level of service. I worked quickly getting him all the information needed and he worked at my pace. He was responsive to e-mails and questions and followed up with the DFPI to make sure everything was filed correctly. I had read online that this process could take as long as 6 months however Alan completed the assignment in less than 3 I will be retaining his services in the future to ensure my company remains in compliance."
--Petroleum Realty Group Inc.
"I hired Alan to represent me as a mortgage broker before the California Department of Real Estate. I couldn't be more pleased with Alan's services from start to finish. Alan was clear and concise. Alan's communication throughout the process was professional. I received the results I hoped for. Thank you Alan. I'll definitely recommend you to ALL and use your services again in the future shall I need anything!"
-Anonymous
"Very helpful in assisting in obtaining an OCCC Texas Motor Vehicle Sales Finance License. Very knowledgeable in answering all questions the OCCC asked for on their questionnaire. Highly recommended and would re-hire for any future assistance regarding motor vehicle and finance business. God Bless!"
-Raul
