Tex. Fin. Code § 159.152
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
A person who collects or receives a payment from a wrap borrower under the terms of or in connection with a wrap mortgage loan owes a fiduciary duty to the wrap borrower to use the payment to satisfy the obligations of the obligee under each debt described by Section 159.001(7)(A)(ii) and the payment of taxes and insurance for which the wrap lender has received any payments from the wrap borrower.
Tex. Fin. Code § 159.152