It's when a homeowner is unable to make principal and/or interest payments on their mortgage. The lender, a bank or building society, can seize and sell the property as stipulated in the terms of the mortgage contract.
We've been helping customers afford the home of their dreams for many years and we love what we do.
Mindy McArthur NMLS: 221076
Mortgage Pro's NMLS: 283288
www.nmlsconsumeraccess.org
https://www.sml.texas.gov/wp-content/uploads/2021/07/rmlo_80_200_b_recovery_fund_notice.pdf
6500 River Place Boulevard, Ste 250, Bld 7
Austin, TX 78730
Phone: (512) 279-1517
mm@mindymcarthur.com
TEXAS COMPLAINTS & REIMBURSEMENTS
Consumers wishing to file a complaint against a mortgage banker or a licensed mortgage banker 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. Complaint forms and instructions may be obtained 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 website at www.sml.texas.gov .
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