Texas rule allowing use of a third party RMLO?

[Neil Aggarwal]

Hello:

I am trying to find statutes that allow a lender to hire a third party RMLO and not be licensed themselves.

I found a statement from HUD on it in this document:

https://mortgage.nationwidelicensingsystem.org/SAFE/NMLS%20Document%20Library/HUD%20Final%20SAFE%20Act%20Rule.pdf

But I would like something specific to Texas, hopefully published by http://www.sml.texas.gov/

Does anyone know of anything?

Thanks,
  Neil

[Mark Buskuhl]

Must be licensed as a Mortgage Company, Mortgage Banker or regulated by a federal banking agency to sponsor an RMLO. 

Allowing an unregulated entity to "hire" (sponsor) an RMLO  is contrary to the intent of the SAFE Act.