Section 58.106 - Surrender of the Registration(a) Surrender Request. A mortgage servicer may seek surrender of the registration by filing a surrender request (request) in NMLS. The filing must be made using the current form prescribed by NMLS. SML will review the request and determine whether to grant it. SML may not grant the request if, among other reasons: (1) the mortgage servicer is the subject of a pending or contemplated investigation or enforcement action;(2) the mortgage servicer is in violation of an order of the Commissioner; or(3) the mortgage servicer has failed to pay any fee, charge, or other indebtedness owed to SML.(b) Inactive Status Pending Surrender. If SML does not grant the request or requires additional time to consider the request, the request will be left pending while the issue preventing SML from granting the request is resolved or lapses. During this time, the mortgage servicer's registration will be assigned the registration status "Approved - Inactive" in NMLS.7 Tex. Admin. Code § 58.106
Adopted by Texas Register, Volume 49, Number 46, November 15, 2024, TexReg 9216, eff. 11/23/2024