Disclosures

HOME MORTGAGE DISCLOSURE ACT (“HMDA”) NOTICE: The HMDA data about our residential mortgage lending are available online for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, age and income of applicants and borrowers; and information about loan approvals and denials. These data are available online at the Consumer Financial Protection Bureau’s Web site (www.consumerfinance.gov/hmda). HMDA data for many other financial institutions are also available at this Web site.

LOAN COMMITMENT: This is not a commitment to make a loan, nor should it be construed as lending advice. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet LTV requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines, and are subject to change without notice based on applicant’s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over life of loan. Reduction in payments may reflect longer loan term. Terms of the loan may be subject to payment of points and fees by the applicant. Mortgage Masters is an Equal Housing Lender NMLS# 1738697.

NATIONWIDE MULTISTATE LICENSING SYSTEM’S CONSUMER ACCESS WEBSITE: www.NMLSConsumerAccess.org

PROFESSIONAL SPECIALISTS: Mortgage Masters, and its loan officers, unless individually licensed and specifically denoted in their credentials, are not qualified to, and are prohibited from representing themselves as accountants, attorneys, certified financial planners, estate planners, investment specialists or tax experts, and will not advise you in those matters. Always seek the advice of a licensed professional for such services.

PROVISION OF A LOAN ESTIMATE: Mortgage Masters does not require any documentation to complete a loan application or to provide a Loan Estimate.

REVERSE MORTGAGE LOAN PRODUCTS AND PROGRAMS: A reverse mortgage, available to borrower(s) age 62 or over, is a loan based upon the current equity in a borrower’s primary residence, with funds disbursed in one lump sum, or over regularly scheduled intervals. As long as the borrower occupies the property as their principal residence, there are no required loan payments, with the loan balance due and payable upon sale, or when the property is otherwise vacated. The borrower DOES RETAIN the responsibility to maintain the property to FHA standards, and remain current on ALL taxes (such as property), insurance (such as hazard), dues (such as homeowner association), and other such costs, as these are separate from the reverse mortgage itself, and WILL NOT be paid by the lender.  Borrowers must complete counseling with a government certified counselor before applying. Consult a tax professional for potential tax consequences, and a benefits coordinator for questions about Social Security or Medicare Benefits.

WHOLESALE BROKERED LOAN PRODUCTS AND PROGRAMS: Mortgage Masters, may act as a third party originator and submit loan packages/applications directly to third party lenders for approval.