Amend CSHB 2779 as follows:
(1) Strike page 3, line 20, through page 4, line 16, and substitute the following:
SECTION 4. Section 157.004, Finance Code, is amended to
read as follows:
Sec. 157.004. EXEMPTIONS. This chapter does not apply to:
(1) a federally insured bank, savings bank, savings
and loan association, Farm Credit System Institution, or credit
union;
(2) a [an affiliate or] subsidiary of a federally
insured bank, savings bank, savings and loan association, Farm
Credit System Institution, or credit union;
(3) a person licensed as a mortgage broker under
Chapter 156; [or]
(4) an authorized lender licensed under Chapter 342;
or
(5) the state or a governmental agency, political
subdivision, or other instrumentality of the state, or an employee
of the state or a governmental agency, political subdivision, or
instrumentality of the state who is acting within the scope of the
person's employment [if:
[(A) the authorized lender includes with an
application for a mortgage loan a notice that is substantially
similar to the notice required by Section 157.007 and provides the
method of submitting complaints to the consumer credit
commissioner;
[(B) the authorized lender uses the forms adopted
by the Finance Commission of Texas under Section 157.011(b); and
[(C) the Finance Commission of Texas determines
by rule that the consumer credit commissioner may suspend or revoke
a license issued under Chapter 342 if the authorized lender engages
in unlawful or unfair practices while making a mortgage loan].
(2) On page 6, strike lines 22-27.