Newsflash: GOLDPoint Systems Now Regulated in Texas!

We are thrilled to announce that GOLDPoint Systems (GPS) has become a regulated loan software vendor in the state of Texas! We all know things are bigger in Texas, so this is HUGE news!

So, why is this such a big deal? Well, Texas requires all lenders operating in the state of Texas to use software that has been reviewed by the Texas Office of Consumer Credit Commissioner (OCCC). It’s a lengthy and involved process that not many companies have undergone. But, since GPS has already been reviewed, our clients can open branches in Texas without the additional work of software review.

This opens up a HUGE market for all of our clients to be able to move into, and I do mean HUGE. With more than 30 million residents and 268,596 square miles, Texas is the second-largest state in the US by both area and population. Texas also has four of the top ten most populous cities in the country. This is a fantastic opportunity for our clients to grow.

Regulated in Texas—The Specifics

GPS has been reviewed by the OCCC for the following types of loans:

Chapter 342.E Loans: Secured Consumer Installment Loans

GPS has been reviewed for use by licensed lenders making loans in the State of Texas under the provisions of Chapter 342, Subchapter E of the Texas Finance Code.

Chapter 342.F Loans: Unsecured or Payday Loans

GPS has also been reviewed for use by licensed lenders making loans in the State of Texas under the provisions of Chapter 342, Subchapter F of the Texas Finance Code for all types of 342.F loans.

Moving Forward

If your company currently uses GPS software and wants to learn more about what it means to be a regulated loan software vendor in Texas, contact your GPS account manager. If your company does not currently use GPS software but you want to learn more about partnering with GPS and what our software can do for you, schedule a live demotoday!

10 Fun Facts About Texas

We were so excited about this new opportunity to help our clients grow their business in Texas that we decided to share some fun facts about the Lone Star state to help you get to know them.

1. Texas Means “Friends” in Caddo Indian
   Texas’ name comes from the Caddo Indian word, “teycha,” which roughly translates to friends or allies. This name was given by the native people who lived there before the Spanish conquest. Today, Texas’ motto is “Friendship,” truly embodying the Southern hospitality the state is known for.

2. Dr Pepper was Invented in Texas in 1885
   Dr. Pepper was created by Charles Alderton in Waco, Texas. The soda became nationally marketed in 1904 and is now sold all over the world. The recipe is so secret that it is split in half and stored in safety deposit boxes in two different banks in the city of Dallas.

3. The Six Flags Theme Park is Named After the Six Countries Whose Flags Have Flown Over Texas
   These six countries are Spain, France, Mexico, the Republic of Texas, the United States, and the Confederate States of America. The six flags can also be found on the reverse of the Seal of Texas and are flown or represented in several areas throughout Texas.

4. Texas has Four of the Top 10 Most Populous Cities in the US
   These cities are Houston, San Antonio, Dallas, and Austin, in order of population. The total population of these four cities is estimated at over six million people. And some of these people may even want a loan (hint, hint).

5. The Motto of Texas’ Capital City is: “Keep Austin Weird”
   A phone call from an Austin Community College librarian to a local radio station launched this motto, along with thousands of souvenirs. In 2000, Red Wassenich called The Lounge Show to make a donation. When asked why he was donating, Wassenich reportedly replied, "because it keeps Austin weird." Something about this clicked with Wassenich and when he told his wife about it, they decided to make bumper stickers. And it grew from there.

6. A Time Capsule in Texas Contains a Passbook Expected to be Worth $1 Quadrillion When Opened in 2968
   The time capsule is sealed in the Helium Centennial Time Columns Monument that was built in 1968 to honor the 100th anniversary of the discovery of helium. This time capsule is set to open 1,000 years from 1968 and has a passbook to a bank account with a $10 bill.

7. King Ranch, Located in Kingsville, Texas, is Larger Than the State of Rhode Island
   The King Range sprawls across 825,000 acres and is home to over 200 Quarter Horses and over 35,000 heads of cattle. In comparison, Rhode Island is only about 776,960 acres.

8. Texas is Home to the Largest Known Bat Colony in North America
   On the northern outskirts of San Antonio is Bracken Cave, home to the largest known North American bat colony with over 15 million Mexican free-tailed bats. The largest known urban bat colony is also located in Texas. This colony can be found in the city of Austin at Lady Bird Lake.

9. Texas has Over 12 Million Cattle
   Texas has about 12.7 million cattle. This puts it at nearly twice the next highest states, with Nebraska at 6.8 million and Kansas at 6.5 million.

10. Texas is Larger than any Country in Europe
    If Texas were its own country, it would be the 40th largest in land area. As a state, Texas is second only to Alaska in landmass. West Texas is larger than the entire country of England. And Central Texas is approximately the same size as Switzerland. In fact, Texas is larger than England, Switzerland, Germany, and Greece combined.

We hope you are as excited about this new opportunity to grow in the state of Texas as we are. It’s going to be HUGE!