EQUAL HOUSING LENDER
Equal Housing Lender, Nationwide Equities Corporation Nationwide Mortgage Licensing System Number 1408. To go to the NMLS access page please visit http://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1408.
Nationwide Equities Corporation is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.
NATIONWIDE EQUITIES CORPORATION’S STATE DISCLOSURE REQUIREMENTS
We are licensed in the following states:
- California: California Residential Mortgage Lending Act License #4131215. Licensed by the CA Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. License #60DBO-113761 Licensed by the CA Department of Financial Protection and Innovation under the Finance Lenders Law.
- Colorado: Colorado Registered Mortgage Company regulated by Colorado Division of Real Estate.
- Connecticut: Connecticut Mortgage Lender License #12304. Licensed by the Department of Banking.
- Delaware: Delaware Lender License #012269. Licensed by the Office of the State Bank Commissioner.
- District of Columbia: District of Columbia Mortgage Lender License #MLB1408. Licensed by the Department of Insurance, Securities and Banking.
- Florida: Florida Mortgage Lender License #MLD453. Licensed by Florida Office of Financial Regulation.
- Maryland: Maryland Mortgage Lender License #06-20150. Licensed by the Commissioner of Financial Regulation.
- New Jersey: New Jersey Residential Mortgage Lender License #9943145. Licensed by the New Jersey Department of Banking and Insurance.
- New York: New York Mortgage Banker License #B500883. Licensed Mortgage Banker, NYS Department of Financial Services. This website is not to solicit mortgage loans in the State of New York.
- North Carolina: North Carolina Mortgage Lender License #L-155926. Licensed by the Office of the Commissioner of Banks.
- Oregon: Oregon Mortgage Lending License #ML-5152. Licensed by the Division of Financial Regulation.
- Pennsylvania: Pennsylvania Mortgage Lender License #22104. Licensed by the PA Department of Banking.
- South Carolina: South Carolina Mortgage Lender License #MLS-1408. Licensed by the Board of Financial Institutions.
- Tennessee: Tennessee Mortgage License 114537 w/HECM Endorsement. Licensed by the Department of Financial Institutions.
- Texas: Texas Mortgage Banker Registration regulated by the Department of Savings and Mortgage Lending. Texas Complaint Recovery Fund Notice: https://www.nwecorp.comtexas-complaint-recovery-fund-notice/.
- Virginia: Virginia Lender License #MC-5681. Licensed by the Virginia State Corporation Commission MC.
- Washington: Washington Consumer Loan Company License #CL-1408. Licensed by the Department of Financial Institutions.
EquityPower State Availability
EquityPower is currently available in the following states: CA, CO, CT, DC, DE, FL, MD, NC, NJ, NY, OR, PA, SC, TX, VA, WA. If you are located in another state but are interested in a private reverse mortgage, we may still be able to help you. Please call 201-529-1401 for more information.
Texas Complaint Recovery Fund Notice
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.
Data is available through the Consumer Financial Protection Bureau at https://www.consumerfinance.gov/data-research/hmda/
This website is not for use in the state of Washington and New York.
A reverse mortgage increases the principal mortgage loan amount and decreases home equity (it is a negative amortization loan). At the conclusion of the reverse mortgage term, 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. Nationwide Equities Corporation charges an origination fee, mortgage insurance premium for HECM loans, closing costs and servicing fees (added to the balance of the loan). The balance of the loan grows over time and Nationwide Equities Corporation 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. For HECM loans only, a set-aside account can be set up to pay taxes and insurance and may be required in some cases. Borrowers must occupy the 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 for HECM loans, dies, sells the home, permanently moves out, defaults on taxes, insurance payments, or maintenance, or does not otherwise comply with the loan terms.
There are closing costs associated with any reverse mortgage.
Nationwide Equities Headquarters
Address: 1 International Boulevard, Suite 1202, Mahwah, NJ 07495 Phone: 201-529-1401