MORTGAGE BROKER/LOAN OFFICER DISCLOSURE

Loan Officer:   Lisa Russell-Fife

License Number:  66937


 The information in this disclosure is to clarify the nature of our relationship, my duties to you, and how I am to be compensated as a Mortgage Broker or Loan Officer. This disclosure is a requirement of the Texas Mortgage Broker License Act.

Since I am working for a company, references to "we or us" refer to me and any company for which I am working.

Duties and Nature of Relationship

You, the applicant(s), have applied with us for a residential mortgage loan.

(X) We will submit your loan application to a participating lender which we may from time to time contract upon such terms as you may request or a lender may require. In connection with this mortgage loan, we are acting as an independent contractor and not as your agent. We will enter into separate independent contractor agreements with various lenders. While we will seek to assist you in meeting your financial needs, we cannot guarantee the lowest or best terms available in the market.

 

How we will be compensated

(X) The retail price we offer you – your interest rate, total points, and fees – will include our compensation. In some cases we may be paid all or part of our compensation by you or by the lender. For example, in some cases if you would rather pay a lower interest rate, you may pay higher up-front points and fees. Also, in some cases, if you would rather pay less up-front, you may be able to pay a higher rate, in which case some or all of my compensation will be paid by the lender. We also may be paid by the lender based on other goods, services, or facilities performed or provided by us to the lender.

The estimated fees which we will charge will be as shown on the good faith estimate which we will provide to you within three (3) days in accordance with the requirements of the Real Estate Settlement Procedures Act and its implementing regulations.

COMPLAINTS REGARDING MORTGAGE BROKERS OR LOAN OFFICERS SHOULD BE SIGNED AND SHOULD BE SENT TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.

Privacy Policy

This Privacy Notice describes Swartz & Brough's policy regarding the sharing of personal information about you. Swartz & Brough's policy applies to Swartz & Brough. and its subsidiaries and affiliates. This Privacy Notice applies to consumer relationships you may have with Swartz & Brough. It does not apply to business relationships.

We respect your privacy. We know it’s important to keep your financial information accurate, up-to-date, and confidential. You have our assurance that we will do our utmost to handle your financial information with discretion and care. From time to time, we may share personal information with an affiliate or a nonaffiliated third party in order to deliver products and services that you have requested or to provide you with information about products or services that may interest you.

We’re committed to keeping your information secure. We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information.

Information we collect. To match you with the financial services best suited for you, we collect and use publicly available information, as well as nonpublic personal information, so that we can deliver better products and services to you and provide you with information about other products and services that might benefit you. We collect nonpublic personal information about you from the following sources:

  • Information we receive from you on applications or other forms;
  • Information about your transactions with us, our affiliates, or others; and
  • Information we receive from a consumer reporting agency or other third parties.
Information we disclose. We may disclose all of the information that we collect, as described above. If you decide to close your account(s) or become an inactive customer, we will adhere to the privacy policies and practices as described in this notice.

The kinds of third parties to whom we disclose information. We may share information among our corporate affiliates and/or with nonaffiliated third parties if we believe that affiliate or third party offers a product or a service of possible benefit to you. For example, we may disclose nonpublic personal information about you to the following types of third parties:

  • Financial service providers, such as mortgage bankers, securities broker-dealers, appraisers, insurance agents and underwriters;
  • Non-financial companies, such as retailers, appraisers, survey companies, and title companies, real estate agents, land developers; and
  • Others, such as non-profit organizations.
  • Anyone who by law, court order, or executive mandate we are required to share information with.
We may also disclose nonpublic personal information about you to nonaffiliated third parties as permitted by law. For example, we may exchange information with consumer reporting agencies and provide it when legally required or permitted in connection with matters such as, but not limited to, litigation, or fraud investigations.

Information we disclose to service providers or joint marketing partners. We may disclose all of the information we collect, as described above, to companies that perform services on our behalf or to other financial institutions and nonaffiliated third parties with whom we have joint marketing agreements.

Note: We may share information about you with our affiliates as permitted by law. For example, corporate affiliates are permitted to share with each other information about their respective transactions and experiences with you (such as your account balance and your payment practices). In addition, corporate affiliates are permitted to share consumer report type information with each other as long as the information is not used or collected in whole or in part to serve as a factor in establishing your eligibility for credit, insurance, employment or any other legally permitted purpose.

Keeping You Informed. This Privacy Notice is effective December 1, 2003. This Privacy Notice supersedes any previously issued Privacy Notice or Policy. From time-to-time we may make changes to our Privacy Notice.

Consumer Complaint and
Mortgage Broker Recovery Fund Notice

Swartz & Brough is licensed under the laws of the State of Texas and by State Law is subject to regulatory oversight by the Texas Department of Savings and Mortgage Lending. Any consumer wishing to file a complaint against Swartz & Brough or one of its Loan Officers should complete, sign, 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 downloaded and printed from the Department's web site located at www.sml.state.tx.us or obtained from the Department upon request by mail at the address above, by telephone at its toll-free consumer hotline at 877.276.5550, by fax at (512) 475-1360 or by e-mail at smlinfo@sml.state.tx.us.

The Department maintains the Mortgage Broker Recovery Fund to make payments of certain types of judgments against a mortgage broker or loan officer. Not all claims are compensable and a court must order the payment of a claim from the Recovery Fund before the Department may pay a claim. For more information about the Recovery Fund, please consult subchapter F of The Mortgage Broker License Act on the Department's website referenced above.

Fair Lending Statement

Discrimination with regard to housing or credit based on race, color, religion, sex, familial status, national origin or ancestry violates The Fair Housing Act and the Equal Credit Opportunity Act. Swartz & Brough is committed to complying with all applicable laws.

Swartz & Brough IS COMMITTED TO TREATING APPLICANTS AND BORROWERS EQUALLY AND WITH DIGNITY, REGARDLESS OF GENDER, RACE, AGE, OR SOCIO-ECONOMIC BACKGROUND.

To evidence this commitment on the part of Swartz & Brough, Swartz & Brough: (i) has instituted and is committed to offering a variety of low and moderate income loan programs; (ii) has undertaken and is committed to the individual training and education of its employees and those with whom it does business to ensure that such employees and other individuals are fully conversant with program guidelines, are sensitive to the special needs of borrowers of limited economic means, and treat all borrowers equally regardless of gender, age, race, or socio-economic background; and (iii) has instituted and will continue to establish systems for monitoring the effectiveness and success of Swartz & Brough’s efforts with respect to minority applicants and borrowers of limited means.

To ensure the success of Swartz & Brough’s commitment, its employees and all those who do business with Swartz & Brough must be dedicated to fulfilling this commitment.

Swartz & Brough maintains and is committed to a policy of non-discrimination in mortgage lending. Prejudice or bias against individuals of low-to-moderate income or on the basis of race, color, religion, sex, age, familial status, national origin or ancestry is unlawful, immoral, and will not be tolerated by Swartz & Brough.

Federal Fair Housing Law

We do Business in Accordance With the
Federal Fair Housing Law
(The Fair Housing Amendments Act of 1988)
It is Illegal to Discriminate Against Any Person
Because of Race, Color, Religion, Sex, Handicap, Familial Status, or National Origin
  • In the sale or rental of housing
  • In advertising the sale or rental of housing
  • In the financing of housing
  • In the provision of real estate brokerage services
  • In the appraisal of housing
  • Blockbusting is also illegal
Anyone who feels he or she has been discriminated against may file a complaint of housing discrimination with the: U.S. Department of Housing and Urban Development, Assistant Secretary for Fair Housing and Equal Opportunity, Washington, D.C. 20410. Visit the HUD Fair Housing and Equal Opportunity Home Page at http://www.hud.gov/offices/fheo

Home Mortgage Disclosure Act Notice

The HMDA data about our residential mortgage lending is available for review. The data show geographic distribution of loans and applications; race, gender, and income of applicants and borrowers; and information about loan approvals and denials. HMDA data may be inspected at 8848 Greenville Ave., Dallas, TX 75243 during normal business hours.

Equal Housing Lender

We Do Business in Accordance
With Federal Fair Lending Laws

UNDER THE FEDERAL FAIR HOUSING ACT, IT IS ILLEGAL, ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, SEX, HANDICAP, OR FAMILIAL STATUS (HAVING CHILDREN UNDER THE AGE OF 18), TO:

  • Deny a loan for the purpose of purchasing, constructing, improving, repairing or maintaining a dwelling, or deny any loan secured by a dwelling; or
  • Discriminate in fixing the amount, interest rate, duration, application procedures or other terms or conditions of such a loan, or in appraising property.

IF YOU BELIEVE YOU HAVE BEEN DISCRIMINATED AGAINST, YOU SHOULD SEND A COMPLAINT TO:

Assistant Secretary for Fair Housing and Equal Opportunity
Department of Housing & Urban Development
Washington, DC 20410

 

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