Based on the information that the Prospective Applicant provides, we will determine if the Prospective Applicant is eligible and meets the financial requirements of the “Ability to Repay”. It is important to note that TPL does NOT decide whether the applicant is approved for financing. That decision lies solely with the lender providing the financing. The RMLO will gather and provide the buyer’s financial information to the lender for review and approval. If the lender wishes to proceed with the extension of credit for the owner nance transaction, we will work with your attorney and/or settlement agent to assist with the closing process.
Broker, its employees, and its agents shall comply with all federal, state, and local laws, rules, and regulations which apply to Broker, Specially the Dodd-Frank Act pertaining to the small creditor guidelines and following the guidance of the Consumer Financial Protection Bureau (“CFPB”), in addition the Equal Credit Opportunity Act (“ECOA”), Fair Credit Reporting Act (“FCRA”), Fair Housing Act, Gramm Leach Bliley Act (“GLBA”), Home Mortgage Disclosure Act (“HMDA”), Real Estate Settlement Procedures Act (“RESPA”), S.A.F.E. Mortgage Licensing Act, Truth-In-Lending Act (“TILA”), and all implementing regulations, regulations addressing Anti-Money Laundering and Bank Secrecy Act as applicable. Broker is qualified and is currently licensed to conduct its business as it is now being conducted at primary location of 14114 Dallas Parkway, suite #225, Dallas, Texas 75254. NMLS License #1479522.
