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Tag: loan amortization

What is Amortization in a Home Loan Scenario

What is Amortization in a Home Loan Scenario | Mortgage Maestro

Amortization is a financial concept with multiple applications. For example, business owners rely on amortization to express the value of their assets for tax purposes. Investors rely on amortization for similar calculations. But when it comes to home loans and the mortgage market, amortization has a completely different application. Mortgage lenders rely on amortization to […]

The Basics of Loan Amortization and Interest Calculations

The Basics of Loan Amortization and Interest Calculations | Mortgage Maestro

Few things in the home loan environment confuse homeowners as much as amortization and interest calculations. These two particular aspects of having a mortgage are enough to make you pull your hair out. Fortunately, mortgage brokers and bankers understand them. They need to, otherwise their businesses would fail. Homeowners are better off if they understand […]

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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.

Home Mortgage Disclosure Act 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. HMDA data for many other financial institutions are also available online. For more information, visit the Consumer Financial Protection Bureau’s website.

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