The Texas Department of Savings & Mortgage Lending, Commissioner Doug Foster issued a notice on August 12th that allows the continuation of the de minimis exemption until further action is taken by the Legislature.
Foster's notice states, in part, "Seller Financing in part or in whole has historically been an important part of facilitating real estate sales transactions. To depart from long standing Texas de minimis tradition in the midst of the current credit restrictions and a market where sellers have difficulty selling homes would run counter to the efforts of stabilizing the housing market & reviving the economy"
Source: Texas Realtor Magazine (Sept/Oct 2010)
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