AMI Lenders finances business purpose loans and consumer loans, both guaranteed by real estate. So, we consider it a good idea to summarize the differences and commonalities between these two types of loans for the benefit of our clients.
Posted by Jim Emerson
Feb 28, 2023 6:46:17 PM
AMI Lenders finances business purpose loans and consumer loans, both guaranteed by real estate. So, we consider it a good idea to summarize the differences and commonalities between these two types of loans for the benefit of our clients.
Topics: houston, consumer loans, business loans, AMI Lenders
Posted by Jim Emerson
Jul 13, 2020 10:57:51 AM
The first thing borrowers must understand about loans is that the PURPOSE of any loan DEFINES its category. This means that each loan nicknamed as a 'Specialty Loan' actually has a specific loan category that they fall under. We believe it's important to know with certainty what borrowers are looking for to maximize their time and effort.
Topics: Specialty Loans, consumer loans, business loans
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. 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 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.”