SECTION 200.113. Excessive Annual Claims Rate by a Participating Financial Institution

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(a) The Office may disallow a PFI whose annual claims rates exceed 6 percent from enrolling any additional Qualified Loans if the Office determines the PFI's practices do not meet Program standards or it is using the Program to offset the costs of a high default rate.
(b) The claims rate shall be measured by either claim amounts made against total capital or the number of claims made on the total number of loans in a twelve-month period.

Source Note: The provisions of this §200.113 adopted to be effective June 25, 2023, 48 TexReg 3217

                    
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