Tex. Fin. Code Section 94.153
Payment of Estimated Charges by Borrower


(a)

To enable the savings bank to pay charges as they become due, a savings bank may require a borrower to pay monthly in advance, in addition to interest and principal, an amount equal to one-twelfth of the estimated annual taxes, assessments, insurance premiums, and other charges on the real property that secures a loan.

(b)

A savings bank may increase or decrease the amount of the loan payment as necessary to meet the charges.

(c)

A savings bank may:

(1)

carry the payments in trust in an account; or

(2)

credit the payments to the indebtedness and advance the money for charges as the charges become due.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 94.153 — Payment of Estimated Charges by Borrower, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­94.­htm#94.­153 (accessed May 11, 2024).

Accessed:
May 11, 2024

§ 94.153’s source at texas​.gov