Manufactured Housing Creditors

Manufactured housing creditors that do not hold a Chapter 342 Regulated Loan License with our agency are required to obtain a registration and an NMLS license if they extend or arrange (broker) a credit transaction with a consumer to include a purchase money lien on the manufactured home. To require a registration, these loans also must be subject to a finance charge or payable in four or more installments.

This chapter does not apply to a manufactured home credit transaction that is entered into primarily for commercial or business purposes.

Resources

Register online with ALECS. Please turn your browsers auto fill feature off prior to beginning your application. To avoid any potential glitches, please use Chrome or Firefox browsers.

If you are paying the late filing fee of $250 for not registering before you began acting as a creditor, you will also need to pay the renewal fee for each year your business provided financing without being registered.

Effective September 1, 2015, all applications for a new license or registration must be submitted through the online system "ALECS" (Application, Licensing, Examination, Compliance System). Any paper application received that is postmarked September 1, 2015 or later will be returned to the applicant with instructions for re-filing.

If you have specific legal questions, please seek the advice of an attorney.

Renewal Information

Renewals will also be mailed in August.

Renewal fees:

$15 for manufactured home dealers.

Statutes & Rules

These are the primary statutes and rules that apply to manufactured housing creditors. This is not a complete list of laws that manufactured housing creditors are required to comply with.

Primary State Statute
Chapter 347, Texas Finance Code: Manufactured Home Credit Sales

OCCC's Rules
Title 7, Chapter 86, Texas Administrative Code

Other State Statutes
Texas Constitution and Statutes

Federal Statutes & Rules
U.S. Government Publishing Office