Ask Texas REALTOR®

Q   A buyer client of mine is getting extremely shoddy treatment from his mortgage broker. I believe this broker is acting downright dishonestly. Can I file a complaint with the Texas Real Estate Commission?

A  The Texas Real Estate Commission does not regulate mortgage brokers. However, Texas mortgage brokers are licensed and regulated by the Texas Savings and Loan Department. Mortgage-broker regulations include rules about disclosures, deceptive practices, advertising, and more. You can find the regulations and the process for making a complaint at www.tsld.state.tx.us. The Texas Association of REALTORS® was instrumental in passing the legislation in 1999 that created the Mortgage Broker Licensing Act. This session, TAR is working to see that mortgage bankers in the state also are regulated.

Have a question about finances, licensing, technology, marketing, or other real estate issues? Ask Texas REALTOR® by sending e-mail to texasrealtor@texasrealtors.com or fax to 512/370-2390. Not all questions can be answered.

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