ASSISTANCE AND GRANT LOAN PRODUCTS AND PROGRAMS:
Assistance and Grant Programs are offered and provided by third-party entities which set the regulations, restrictions, and qualifications criteria. Some programs require repayment and/or conditions which may trigger repayment, while others may not. Obsidian Financial Services is not responsible for non-qualification, program availability, nor conditions of the program.
CO-MARKETING:
Obsidian Financial Services complies with Section 8 of RESPA and does not offer anything of value such as marketing services or defrayed business costs in exchange for referrals or for the expectation of referrals.
CREDIT REPORTING AND REPAIR:
Obsidian Financial Services and its loan officers, are not in the business of credit repair and will not advise you in those matters. You may obtain your free credit report each year at www.annualcreditreport.com
GREEN CONSTRUCTION LOAN PRODUCTS AND PROGRAMS:
Certain energy efficient mortgage programs recognize the value of energy efficient "green" construction. Loan discounts may be available. Not all properties will qualify.
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.
LICENSES: | www.NMLSConsumerAccess.org
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. Obsidian Financial Services is an Equal Housing Lender NMLS #1425046
NATIONWIDE MULTISTATE LICENSING SYSTEM'S CONSUMER ACCESS WEBSITE: www.NMLSConsumerAccess.org
PROFESSIONAL SPECIALISTS:
Obsidian Financial Services , 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:
Obsidian Financial Services 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.
UNAFFILIATED VENDORS, COMPANIES, NON-PROFIT ORGANIZATIONS, AND GOVERNMENTAL ENTITIES:
Obsidian Financial Services is not affiliated with any other vendor, company, non-profit organization, or governmental entities. Borrowers may shop for services and are under no obligation to hire the services of individuals or companies recommended by a Obsidian Financial Services employee, or other company recommended by any other individual involved in a transaction (such as Realtor, Title Company, Home Inspector, etc.). Any organizational names and/or logos are trademarks of their respective owners.
WHOLESALE BROKERED LOAN PRODUCTS AND PROGRAMS:
Obsidian Financial Services may act as a third party originator and submit loan packages/applications directly to third party lenders for approval.
TEXAS APPLICANTS:
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.TEXA