Section 58.301 - Investigations(a) Purpose. This section clarifies and establishes requirements related to investigations of a mortgage servicer conducted by SML under Finance Code §158.102.(b) Reasonable Cause. SML will conduct an investigation if it has reasonable cause to do so. Reasonable cause is deemed to exist if SML receives or discovers information from a source SML has no reason to believe is other than credible indicating that a violation of law more likely than not occurred that is within SML's authority to take action to address. The absence of reasonable cause to initiate an investigation does not constitute grounds to challenge and does not invalidate an action taken by SML to address a violation found during the course of an investigation.(c) Investigation Methods. Investigations will be conducted as SML deems appropriate based on the relevant facts and circumstances then known. Such investigation may include: (1) review of documentary evidence; (2) interviews with complainants, respondents, and third parties, and the taking of sworn written statements; (3) obtaining information from other state or federal agencies, regulatory authorities, or self-regulatory organizations;(4) requiring complainants or respondents to provide explanatory, clarifying, or supplemental information; and(5) other lawful investigative methods as SML deems necessary or appropriate.(d) Investigation Fee. The Commissioner may collect a fee for conducting an investigation on a mortgage servicer. The amount of the fee is determined by the Commissioner not to exceed $975 per complaint. The investigation fee, if any, is assessed at the time SML closes the complaint. The investigation fee, if any, will be invoiced in NMLS and must be paid in NMLS.7 Tex. Admin. Code § 58.301
Adopted by Texas Register, Volume 49, Number 46, November 15, 2024, TexReg 9217, eff. 11/23/2024