2019 Texas Statutes
Insurance Code
Title 12 - Other Coverage
Chapter 3502 - Mortgage Guaranty Insurance
Subchapter E. Lender Powers and Duties
Section 3502.204. Advertising of "Insured Loans
Sec. 3502.204. ADVERTISING OF "INSURED LOANS." A bank, savings and loan association, insurer, or approved seller-servicer of the Federal National Mortgage Association, any of whose authorized real estate securities are insured by a mortgage guaranty insurer, may not state in a brochure, pamphlet, or report or any form of advertising that the real estate loans of the bank, savings and loan association, insurer, or seller-servicer are "insured loans" unless:
(1) the brochure, pamphlet, report, or advertising also:
(A) clearly states that the loans are insured by private insurers; and
(B) lists the names of the private insurers; and
(2) the insurance on the real estate loans is written by an insurer authorized to write that insurance in this state.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 3, eff. April 1, 2007.
