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01 September 2015
The Federal Housing Administration introduced its new supplemental performance metric, an updated measurement system to evaluate approved loan lenders in an effort to grow credit for underserved borrowers. By offering a more in-depth view of lenders' default performance, the new metric is designed to expand lending, according to The Hill.The New Me
01 September 2015
For prospective homebuyers or anyone considering a mortgage, here's a review of what you need to know from the month of August:Mortgage Interest Rates Jump Again - U.S. Federal Housing Finance Agency Loans of all sorts saw a rise in July compared to June. The average contract mortgage rate existing-home purchase climbed to 4.02 percent in July, an
25 August 2015
Several of the largest banks in the U.S., including JPMorgan Chase and Bank of America, announced changes in August that would make it easier for lenders to issue jumbo mortgages. The qualifications for a larger-sized mortgage rate previously were a home down payment of at least 20 percent and a credit score of 740 or higher. With the relaxed requi
19 August 2015
Lenders must be prepared to work with unmarried couples looking to purchase homes. Almost one in five Americans purchased their first homes with their current spouses prior to getting married, a 2013 study by Coldwell Banker found. The frequency of that trend rose when focused on a younger demographic. The same research said 24 percent of millennia

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Texas Mortgage Banker Disclosure

Pursuant to the requirements of section 157.007 of the mortgage banker registration and residential mortgage loan originator act, chapter 157, texas finance code, you are hereby notified of the following:

Consumers wishing to file a complaint against a mortgage banker or a licensed mortgage banker residential mortgage loan originator should complete, sign and send a complaint form to the texas department of savings and mortgage lending, 2601 north lamar, suite 201, austin, texas 78705. Complaint forms and instructions may be downloaded and printed from the department's website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550.

The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. 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. For more information about the recovery fund, please consult the department's web site at www.sml.texas.gov.

Free Educational Pamphlets

Below are links to several free informational pamphlets provided by various government agencies. Feel free to print them out to review at your leisure.