LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION

March 24, 2009

TO:	Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	HB2779 by Truitt (Relating to amending the Texas Mortgage Banker Registration Act to provide for licensing and regulation of mortgage banker employees who are residential mortgage originators and providing enforcement and penalties.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill amends the Finance Code to provide licensing and regulation of mortgage banker employees who are residential mortgage originators.

Based on the analysis of the Office of Consumer Credit Commissioner, the Department of Banking, and the Department of Savings and Mortgage Lending, it is assumed that duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing agency resources.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

304 Comptroller of Public Accounts, 450 Department of Savings and Mortgage Lending, 451 Department of Banking, 466 Office of Consumer Credit Commissioner

LBB Staff:

JOB, JRO, MW, ACa