Legal Information & Privacy Policy

AAG Home Equity Conversion Mortgage (HECM) Disclosure

NMLS# 9392 (www.nmlsconsumeraccess.org). American Advisors Group (AAG) is headquartered at 3800 W. Chapman Ave., 3rd & 7th Floors, Orange CA, 92868. AAG conducts business in the following states: AK (Alaska Mortgage Broker/Lender License No. AK9392), AL, AR, AZ (MB_0911141), CA (CA Loans made or arranged pursuant to a California Finance Lenders Law license (603F324) and Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act (4131144)), CO (Regulated by the Division of Real Estate; to check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm), CT, DC (District of Columbia Mortgage Dual Authority License No. MLB9392), DE, FL, GA (residential Mortgage Licensee #22849), HI, IA, ID, IL (Illinois Residential Mortgage Licensee; Illinois Commissioner of Banks can be reached at 100 West Randolph, 9th Floor, Chicago, Illinois 60601, (312)814-4500), IN, KS (Kansas Licensed Mortgage Company MC. 0025024), KY, LA, MD, ME (SLM11356), MI, MN, MO (4824 NW Gateway Ave, Suite 201, Riverside, MO 64168), MS (Licensed by the Mississippi Department of Banking and Consumer Finance), MT, NC, ND, NE, NH (Licensed by the New Hampshire banking department), NJ (Licensed by the N.J. Department of Banking and Insurance), NM, NV, NY (Licensed Mortgage Banker-NYS Department of Financial Services; American Advisors Group operates as American Advisors Group, Inc. in New York.), OH (MBMB.850159.000), OK, OR (ML-4623), PA (Licensed by the Pennsylvania Department of Banking 28356), RI (Rhode Island Licensed Lender), SD, SC, TN, TX (Mortgage Banker Registration, 13785 Research Blvd, Ste. 125, Austin, TX 78750), UT, VA (Licensed by the Virginia State Corporation Commission MC – 5134), VT (Vermont Lender License No. 6384), WA (Consumer Loan # CL-9392),WV, WI, WY (WY-DBA AAG Reverse Mortgage Lender/Broker License No. 2331). AAG is an equal housing lender. These materials are not from HUD or FHA and were not approved by HUD or a government agency

A reverse mortgage increases the principal mortgage loan amount and decreases home equity (it is a negative amortization loan). AAG works with other lenders and financial institutions that offer reverse mortgages. To process your request for a reverse mortgage, AAG may forward your contact information to such lenders for your consideration of reverse mortgage programs that they offer.

When the loan is due and payable, some or all of the equity in the property no longer belongs to borrowers, who may need to sell the home or otherwise repay the loan with interest from other proceeds. AAG charges an origination fee, mortgage insurance premium, closing costs and servicing fees (added to the balance of the loan). The balance of the loan grows over time and AAG charges interest on the balance. Interest is not tax-deductible until the loan is partially or fully repaid.

Borrowers are responsible for paying property taxes, homeowner’s insurance, maintenance, and related taxes (which may be substantial). We do not establish an escrow account for disbursements of these payments. A set-aside account can be set up to pay taxes and insurance and may be required in some cases. Borrowers must occupy home as their primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan also becomes due and payable (and the property may be subject to a tax lien, other encumbrance, or foreclosure) when the last borrower, or eligible non-borrowing surviving spouse, dies, sells the home, permanently moves out, defaults on taxes, insurance payments, or maintenance, or does not otherwise comply with the loan terms.

V2017.08.23_OR


AAG Advantage (Jumbo) Disclosure

NMLS# 9392 (www.nmlsconsumeraccess.org). American Advisors Group (AAG) is headquartered at 3800 W. Chapman Ave., 3rd & 7th Floors, Orange CA, 92868. AAG Advantage reverse mortgage loans are only offered in the following states: CA (CA Loans made or arranged pursuant to a California Finance Lenders Law license (603F324) and Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act (4131144)), CT, CO (Regulated by the Division of Real Estate; to check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm), HI, FL, IL (Illinois Residential Mortgage Licensee; Illinois Commissioner of Banks can be reached at 100 West Randolph, 9th Floor, Chicago, Illinois 60601, (312)814-4500), PA (Licensed by the Pennsylvania Department of Banking 28356), TX (Mortgage Banker Registration, 13785 Research Blvd, Ste. 125, Austin, TX 78750), VA (Licensed by the Virginia State Corporation Commission MC – 5134).

A reverse mortgage increases the principal mortgage loan amount and decreases home equity (it is a negative amortization loan). When the loan is due and payable, some or all of the equity in the property no longer belongs to borrowers, who may need to sell the home or otherwise repay the loan with interest from other proceeds. AAG charges an origination fee, mortgage insurance premium, closing costs and servicing fees (added to the balance of the loan). The balance of the loan grows over time and AAG charges interest on the balance. Interest is not tax-deductible until the loan is partially or fully repaid.

Borrowers are responsible for paying property taxes, homeowner’s insurance, maintenance, and related taxes (which may be substantial). We do not establish an escrow account for disbursements of these payments. A set-aside account can be set up to pay taxes and insurance and may be required in some cases. Borrowers must occupy home as their primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan also becomes due and payable (and the property may be subject to a tax lien, other encumbrance, or foreclosure) when the last borrower dies, sells the home, permanently moves out, defaults on taxes, insurance payments, or maintenance, or does not otherwise comply with the loan terms.

V2017.8.23_OR


AAG Residential Services, Inc. Disclosure

AAG Residential Services, Inc., Orange, California. Real estate broker, California Bureau of Real Estate, Licence number 02039087. AAGRS is performing acts for which a real estate license is required.

American Advisors Group Privacy Policy

American Advisors Group values the privacy of their customers. To learn how we handle your information, please read the following. Our highest priority is your trust and confidence in us.

Our Privacy Commitment to You

When you visit our site, https://americanadvisorsgroup.com/, please know that you are accepting the Privacy Policy described herein. Your privacy is important to us and we are proud of our dedication and commitment to protecting it.

Information Collected

AAG collects all information inputted by the site visitor, such as site registrations, survey information, name, address, phone numbers, and property data. AAG stores all data collected in a secure database which can only be accessed by American Advisors Group employees.

Information Accuracy

Accuracy of your information is key and we work diligently to ensure it is as correct and complete as possible. If you find that there is inaccurate information in our records that needs to be updated please contact us immediately. If the record is something in our control we will make the necessary changes as soon as possible.

Collected Information and Usage

The information that we collect from you is important. There may be times when American Advisors Group will contact you for feedback on your experience. AAG may share your information in compliance with applicable privacy laws. This website utilizes 3rd Party Cookies to enhance your browsing experience.

AAG uses “cookies” on this site. A cookie is a piece of data stored on a site visitor’s hard drive to help us improve your access to our site and identify repeat visitors to our site. For instance, when we use a cookie to identify you, you would not have to log in a password more than once, thereby saving time while on our site. Cookies can also enable us to track and target the interests of our users to enhance the experience on our site. Usage of a cookie is in no way linked to any personally identifiable information on our site.

Some of AAG’s business partners may use cookies on our site (for example, advertisers). However, we have no access to or control over these cookies.

You may set cookies that tell AAG or third parties to not use information about what sites you visit to target ads to you. For example, the Network Advertising Initiative (NAI) and the Digital Advertising Alliance (DAA) offer tools for opting out of targeted advertising. If you delete all cookies, you will also delete the cookies that indicate your preference to opt out of targeted ads. Cookies are used for many purposes. For example, cookies are used to limit the number of times you are shown a particular ad. Therefore, even if you opt out of targeted advertising, a company may still use cookies for other purposes.

All emails that we receive from our clients and business partners are completely confidential and are never shared with persons outside of American Advisors Group unless we have your express permission.

If you do not wish to receive further e-mail communications from us, you may click here to unsubscribe.

Your trust and confidence in us is valued and is one of our top priorities.

Do Not Call Policy

American Advisors Group (AAG) complies with all federal and state Do Not Call regulations. We respect and protect your rights and privacy. You may access a copy of our Do Not Call Policy at https://americanadvisorsgroup.com/privacy-policy/dnc/.

Changes in Privacy Policy

Any changes to our Privacy Policy will be communicated through the site at least 10 days in advance of implementation. Information collected before changes are made will be secured according to the previous Privacy Policy.

Questions

If you have any questions about the American Advisors Group web site or privacy policy, please email us at webmaster@aag.com or by writing to us at:

American Advisors Group
Attn: Client Relations
3800 W. Chapman Avenue, Third Floor
Orange, CA 92868

Effective Date
This policy is effective 9/20/2017.