As you may be aware, the Texas Department of Savings and Mortgage Lending (“SML”) is the subject of Sunset Review this year. The Texas Sunset Commission conducted their first hearing last Thursday, May 24th. Doug Foster, the former Commissioner of the SML and the Director of Regulatory Affairs for Polunsky Beitel Green, among others, testified before the Commission. This memo outlines the details of that hearing.
Please let us know if you have any questions regarding this information.