Texas Finance Code 159.101 – Disclosure Statement; Option to Rescind
Current as of: 2024 | Check for updates
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Terms Used In Texas Finance Code 159.101
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: means real and personal property. See Texas Government Code 311.005
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(a) A wrap lender must, on or before the seventh day before the wrap mortgage loan agreement is entered into, provide to the wrap borrower a separate written disclosure statement in at least 12-point type that:
(1) contains the information required for a written disclosure statement under § 5.016, Property Code; and
(2) includes a statement in a form substantially similar to the following: