Secondary Loans – 7000 N Mopac Expy #200
Sources & References
https://www.sml.texas.gov/wp-content/uploads/2023/11/5.-Mortgage-Industry-Seminar-Secondary-Mortgage-Loans-Requirements-and-Limitations.pdf
Elements of Secondary Mortgage Loans 2 LOAN = ADVANCE OF MONEY + OBLIGATION TO REPAY PURPOSE OF THE LOAN = PERSONAL, FAMILY, OR HOUSEHOLD PURPOSE IMPROVEMENT = IMPROVED BY A DWELLING MULTIPLE LIENS = SUBJECT TO ONE OR MORE LIENS, SECURITY INTEREST, PRIOR MORTGAGES, OR DEEDS OF TRUST 11th Annual Mortgage Industry Day - 11 06 2023... effective rate does not exceed 10% simple interest Scheduled Installment Earnings Method True Daily Earnings Method Late Charges (State Law) Greater of 5% of the
https://austinfinancial.com
AFS-home-slider-1 AFS-home-slider-1 AFS-home-slider-1 We are in the business of supplying working capital, but it’s our human capital that is our greatest asset. Our team of professionals are guided by our core principles of quality, integrity and transparency. While the modern age of technology has changed how we do business, we still believe in the importance of the human connection
https://www.serviceloansouth.com/locations/austin-212/
We offer easy, affordable personal loans in South Austin, TX to help with bills, medical expenses, and anything else. Apply online and qualify in minutes
Map Location
Services this business provides
Contact Information
Address
7000 N Mopac Expy #200, Austin, TX 78731
Phone
(512) 30-98-614Frequently Asked Questions about Secondary Loans
Historical notes show Austin attracting niche ABL providers focused on real estate investors and middle-market companies, with several firms advertising flexible underwriting and rapid funding in the market. For due diligence, refer to local Better Business Bureau listings and regional lender directories to verify credentials and track records. For more information, consult Austin-focused asset-based lenders and industry press coverage.
- Primary regulators: Texas Department of Savings and Mortgage Lending oversees licensing, compliance, and enforcement; federal law adds disclosure and cost-accuracy requirements.
- Rules to note: limitations on fees, prepayment penalties, balloon payments for high-cost loans, and prohibition on certain renewal or deferment charges; open-end loans require transparent indexing and schedule-based payments.
- Additional considerations: servicing standards, complaint avenues, and record retention requirements for secondary mortgage loans within Texas.
Key considerations
- Expect quicker approvals and funding, but potentially higher fees and interest rates; compare terms carefully.
- Verify licensing and consumer protections with state authorities and the Texas Department of Housing and Community Affairs; ask for transparent disclosures and an amortization schedule.