Licensing & Information

Legal Information

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, South River Mortgage 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.


South River Mortgage charges an origination fee, mortgage insurance premium (where required by HUD), closing costs and servicing fees, rolled into the balance of the loan. South River Mortgage 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.

South River Mortgage Home Equity Conversion Mortgage (HECM) Disclosure

NMLS #1854524 (www.nmlsconsumeraccess.org). South River Mortgage is headquartered at 1 Park Pl., Suite 275, Annapolis, MD 21401. South River Mortgage conducts business in the following states: AL, AZ (BK_1009204/BK_ 1031337), CA (CA Loans made or arranged pursuant to a California Finance Lenders Law license (60DBO-103861)), CO (Regulated by the Division of Real Estate; to check the license status of your mortgage loan originator, visit https://apps.colorado.gov/dre/licensing/Lookup/LicenseLookup.aspx), DC (District of Columbia Mortgage Broker License No. MLB1854524), DE, FL, GA (Mortgage Broker/Processor Licensee #1854524), 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, LA, MD, MN, NJ (Licensed by the N.J. Department of Banking and Insurance), OH (RM.804642.000), OR, PA (Licensed by the Pennsylvania Department of Banking 77131), TN, TX (Mortgage Banker Registration, 9601 Amberglen Blvd, Suite 260 Austin, TX 78729), WA (Consumer Loan # CL-1854524). South River Mortgage 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).

CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A 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 LICENSED 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.

South River Mortgage HomeForLife Disclosure

NMLS# 1854524 (www.nmlsconsumeraccess.org). South River Mortgage is headquartered at headquartered at 1 Park Pl., Suite 275, Annapolis, MD 21401. South River Mortgage HomeForLife reverse mortgage loans are only offered in the following states: AZ (BK_1009204/BK_ 1031337), CA (CA Loans made or arranged pursuant to a California Finance Lenders Law license (60DBO-103861)), CO (Regulated by the Division of Real Estate; to check the license status of your mortgage loan originator, visit https://apps.colorado.gov/dre/licensing/Lookup/LicenseLookup.aspx), 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 94893), OH (RM.804642.000), OR, TX (Mortgage Banker Registration, 9601 Amberglen Blvd, Suite 260 Austin, TX 78729). HomeForLife is not available in all states.