Legal Information & Privacy Policy

Reverse Mortgage

Reverse mortgage loan terms include occupying the home as your primary residence, maintaining the home, paying property taxes and homeowners insurance. Although these costs may be substantial, AAG does not establish an escrow account for these payments. However, a set-aside account can be set up for taxes and insurance, and in some cases may be required. Not all interest on a reverse mortgage is tax-deductible and to the extent that it is, such deduction is not available until the loan is partially or fully repaid.


AAG charges an origination fee, mortgage insurance premium (where required by HUD), closing costs and servicing fees, rolled into the balance of the loan. AAG charges interest on the balance, which grows over time. When the last borrower or eligible non-borrowing spouse dies, sells the home, permanently moves out, or fails to comply with the loan terms, the loan becomes due and payable (and the property may become subject to foreclosure). When this happens, some or all of the equity in the property no longer belongs to the borrowers, who may need to sell the home or otherwise repay the loan balance. V2021.06.02

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 (BK_0911141), CA (CA Loans made or arranged pursuant to a California Finance Lenders Law license (603F324) and Licensed by the Department of Financial Protection and Innovation 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 58 South Service Road, Suite 210 Melville, NY 11747 (Licensed Mortgage Banker-NYS Department of Financial Services; American Advisors Group operates as American Advisors Group, Inc. in New York.) LMBC 109396, OH (RM.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, 9601 Amberglen Blvd, Suite 260 Austin, TX 78729), 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). V2021.06.02

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.TEXAS.GOV.

AAG Advantage 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: AZ (BK_0911141), CA (CA Loans made or arranged pursuant to a California Finance Lenders Law license (603F324) and Licensed by the Department of Financial Protection and Innovation 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), D.C. (District of Columbia Mortgage Dual Authority License No. MLB9392), FL, GA (residential Mortgage Licensee #22849), HI, 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), LA, MI, NC, NJ (Licensed by the N.J. Department of Banking and Insurance), NV, NY 58 South Service Road, Suite 210 Melville, NY 11747 (Licensed Mortgage Banker-NYS Department of Financial Services; American Advisors Group operates as American Advisors Group, Inc. in New York.) LMBC 109396, OH (RM.850159.000), OR (ML-4623), PA (Licensed by the Pennsylvania Department of Banking 28356), RI (Rhode Island Licensed Lender), SC, TX (Mortgage Banker Registration, 9601 Amberglen Blvd, Suite 260 Austin, TX 78729), UT, VA (Licensed by the Virginia State Corporation Commission MC – 5134). WA (Consumer Loan # CL-9392), Advantage Select is not available in all states. V2021.06.01

AAG Traditional Mortgage 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 (BK_0911141), CA (CA Loans made or arranged pursuant to a California Finance Lenders Law license (603F324) and Licensed by the Department of Financial Protection and Innovation 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 58 South Service Road, Suite 210 Melville, NY 11747 (Licensed Mortgage Banker-NYS Department of Financial Services; American Advisors Group operates as American Advisors Group, Inc. in New York.) LMBC 109396, OH (RM.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, 9601 Amberglen Blvd, Suite 260 Austin, TX 78729), 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 Mortgage Lender/Broker License No. 2331). AAG is an equal housing lender. V2021.06.01

AAG Residential Services, Inc. Disclosure

AAG Residential Services, Inc., Orange, California. Real estate broker, California Department of Real Estate, License 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.

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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.