The Asset Depletion Program allows borrowers to utilize the following assets to qualify for Debt to Income.
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REVISED: DECEMBER 3, 2020
© 2020 All Credit Considered Mortgage, Inc. d/b/a ACC Mortgage · NMLS ID 176724 · 1801 Research Blvd., Suite 410, Rockville, MD 20850 · (877) 349-0501. Not all loan programs are available in all areas. Program restrictions may apply. All rights reserved. This is not an offer or extension of credit or a commitment to lend. Licenses are held as follows: Arizona Mortgage Banker License number BK #0937856; Connecticut Mortgage Lender License ML-176724; Delaware Lender License #020786 ; Florida Mortgage Lender Servicer #MLD953; Georgia Mortgage Lender License #46424; Idaho Mortgage Broker/Lender License #MBL-2080176724; Illinois Residential Mortgage License MB.6761111; Indiana-DFI Mortgage Lending License #40794; Maryland Mortgage Lender License #6625; Michigan 1st Mortgage Broker/Lender License #FL0022183; Minnesota Residential Mortgage Originator License # MN-MO-176724; Mississippi Mortgage Lender License 176724; Nevada Mortgage Lender License 4619; New Jersey Residential Mortgage License; North Carolina Mortgage Lender License L-164875; Oklahoma Mortgage Lender License #ML012740; Oregon Mortgage Lending License #ML-5825; Pennsylvania Mortgage Lender License 51566; South Carolina-BFI Mortgage Lender/Servicer License MLS-176724; Tennessee Mortgage License #181409; Texas SML Mortgage Company License; Utah-DFI Residential First Mortgage Notification; Virginia Lender Licensed by the Virginia State Corporate Commission as MC-1856; Washington Consumer Loan Company License #CL-176724; Wisconsin Mortgage Banker License #176724BA; District of Columbia Mortgage Dual Authority License #MLB176724. Revised: April 21, 2020.
STATE LICENSING DETAILS
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, 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.”