A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-87. “Texas Mortgage Broker Disclosure Figure: 7 TAC §80.200(b) “CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. Loans made pursuant to California Finance Lenders Law, License #60DBO-86253 | Colorado Mortgage Company Registered by the Division of Real Estate | Florida Office of Financial Regulation Mortgage Broker Business License #MBR729 | Idaho Mortgage Broker License #ML-5709 | Oregon Mortgage Lending License #ML-6909 | Texas Mortgage Broker | Washington Mortgage Broker License #MB-76801 Real Estate Broker, California Department of Real Estate #01456165 | CA Department of Financial Protection and Innovation. dba Zyng Mortgage, Zyng Mortgage Co, MLS Reverse Mortgage, MLS Mortgage and NextView Reverse Mortgage | NMLS #76801 Learn more about how a Home Equity Conversion Mortgage (HECM) loan might be right for you by contacting one of our top reverse mortgage lenders. When researching a reverse mortgage, it’s important to speak to your family and trusted financial advisor to weigh both the pros and cons. If the calculator or company you are using to compare programs does not give you all this information and functionality, you are not getting access to all the information available and are deciding at a distinct disadvantage!įurthermore, you are not getting enough information to be able to compare and make an educated decision regarding the best option for you, especially if you want to compare several companies. It must have the ability to retrieve and populate the local third-party costs (appraisal, title insurance, recording fees, etc.) based on the zip code you provide so that your proposal has the most accurate fees and costs possible. The calculator should be updated no less than daily and more often if needed. It should give you the information you are requesting and not withhold the loan option information, requiring you to either fill in your personal information (such as social security numbers and all your contact information including phone number) just so that you can get an idea of what is available to you.Īn effective calculator must allow you to see all options available and give you the opportunity to choose the option that best meets your needs.
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