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© 2020 American Advisors Group, All Rights Reserved NMLS# 93_92 3800 W. Chapman Avenue. Orange, CA 92868
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 Business Oversight 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).
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.
Welcome to aag.com (the “Site”) and the online services of American Advisors Group (collectively, “AAG”, the “Company,” “we,” or “us”). This Online Privacy Statement (the “Privacy Statement”) explains how we collect, use, disclose, and protect the Personal Information that we collect through our Services, and your choices about the collection and use of such information.
Throughout this Privacy Statement, we collectively refer to this Site and any services offered through it as the “Services.” When you use our Services, you agree that we may use and disclose your Personal Information as described in this Privacy Statement. If you do not consent to these terms, you should not use the Services or otherwise provide us with any Personal Information.
If you apply for a loan or another financial product or service with us, we may provide you with a separate notice that describes our practices with respect to the use and disclosure of the non-public personal information that we learn about you in the course of providing you with such Services (such information, “NPPI”), and which gives you an opportunity to opt-out of certain types of information sharing. To the extent that there is any conflict between this Online Privacy Statement and that notice, the notice shall control.
Please note that this Privacy Statement does not describe the practices of any other party that may have access to your Personal Information. To the extent that we provide your Personal Information to our agents or service providers, we will take what we believe to be commercially reasonable steps to ensure that they safeguard such information and use it only for the intended purposes. However, we are not responsible for the practices employed by any third party website that we may link to, nor for the information or content contained therein. We encourage you to review the privacy statements of such other websites to understand their information practices and terms of service.
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Capitalized terms that are not defined in this Privacy Statement have the meaning given to them in our Terms and Conditions.
We collect the following types of information about you:
Personal Information:For purposes of this Privacy Statement, “Personal Information” means information that would allow someone to identify or contact you or your computing device. We may ask for certain types of Personal Information, such as your first and last name, phone number, current address, and e-mail address when you use the Site or otherwise correspond with us.
We use this information to create your account and to operate, maintain, and provide to you the features and functionality of the Services, as well as to communicate directly with you, such as to send you legally required disclosures, email messages, telephone calls, and/or text messages. We may also send you Services-related emails or messages (e.g., account verification requests, transaction confirmations, offers and/or counteroffers, notifications of changes or updates to features of the Services, and technical and security notices).
For more information about your communication preferences, see “Your Choices Regarding Your Information” below.
Aggregate or Demographic Information:We may collect and analyze aggregate data assembled from Personal Information collected via the Services. Aggregate data is collected in order to better understand the demographics and usage patterns of all users of the Services, so that we can provide the highest level of service to our customers. Such aggregate data generally is not personally identifiable or linked to a specific user.
Technical Information:Our servers may automatically collect certain technical information about your use of the Services, including, without limitation, your browser type, your operating system, Internet Protocol address, and bandwidth speed. We also may track your activity on our Site, including pages visited, buttons or links clicked, emails opened, etc. Some technical information may qualify as Personal Information, while other technical information may not be personally identifiable. We generally use technical information for system administration, security and statistical analysis.
Mobile Device Data:Certain mobile devices contain unique identifiers that can be used, for example, to identify the physical location of such devices. When you access the Services through a mobile device, we may collect, use, transmit, process and maintain unique identifiers, caller ID data, location-based data, and similar information for various purposes, including to provide the Services you request and to improve your experience with the Services.
We may use “cookies” to collect some of the preceding information. 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 also can enable us to track and target the interests of our users to enhance the experience on our site. Cookies also may be used to limit the number of times you are shown a particular ad.
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. As discussed below, we cannot guarantee that our Site will respond to Do-Not-Track signals from your browser at this time. Further, note that if you delete all cookies, you will also delete the cookies that indicate your preference to opt out of targeted ads.
From time-to-time, we may engage third parties to track and analyze non-personally identifiable usage and volume statistical information from individuals who visit our Services.
You also may see advertisements when you use our Site. These advertisements are for our own products or services or for products and services offered by third parties. Which advertisements you see is often determined using the information that we, our service providers, and other companies that we work with have about you, including information about your relationships with us. To that end, where permitted by applicable law, we may share with others the information that we collect from and about you.
We may use your Personal Information in order to provide the Services, to deliver advertising content to you, and otherwise for our everyday business purposes, as described above.
Note, however, that we also may disclose your Personal Information to third parties in order to provide the Services and for other reasons. Such third parties may include affiliated or unaffiliated companies and other entities.
Subject to applicable law, the reasons that we may use and disclose your personal information include:
For further information on your choices regarding your information, see the section below called, “Your Choices Regarding Your Information.”
Storage and Processing: Personal Information collected through the Services may be stored and processed in the United States or any other country in which AAG or its subsidiaries, affiliates or service providers maintain facilities. If you are located in the European Union, Canada, or other regions with laws governing data collection and use that may differ from U.S. law, please note that we may transfer information, including Personal Information, to a country and jurisdiction that does not have the same data protection laws as your jurisdiction, and you consent to the transfer of information to the U.S. or any other country in which AAG or its parent, subsidiaries, affiliates or service providers maintain facilities and the use and disclosure of information about you as described in this Privacy Statement.
Security: We care about the security of your information and use what we believe to be commercially reasonable safeguards to preserve the integrity and security of all Personal Information collected through the Services.
Please be advised, however, that no security measure, system, or control is infallible. WE ACCORDINGLY DO NOT GUARANTEE THAT INFORMATION ON THE SERVICES MAY NOT BE ACCESSED, DISCLOSED, ALTERED, OR DESTROYED AND DISCLAIM ANY EXPRESS OR IMPLIED WARRANTIES, DUTIES OR CONDITIONS IN THAT REGARD. If any applicable law imposes on us a duty with respect to these matters that cannot be disclaimed, you acknowledge and agree that our commercially reasonable precautions shall be considered to satisfy that duty unless (and only unless) we have engaged in willful misconduct.
Compromise of information: In the event that the security of any Personal Information under our control is compromised, we will take reasonable steps to investigate and mitigate the situation, including, when and where appropriate, by notifying those individuals whose Personal Information may have been compromised and taking other steps in accordance with applicable laws and regulations.
Commercial and marketing communications: We may provide notifications to you that are required by law or that are for marketing or other business-related purposes. Subject to applicable law, we may provide such notifications to you via email, text message, hard copy, or through conspicuous posting on our Site or otherwise through the Services. We reserve the right to determine the form and means of providing notifications to you.
Promotional Emails: We may send you emails containing newsletters, promotions and special offers. If you do not want to receive such promotional email communications, you will be given the option to opt out. You can stop receiving promotional email communications from us by clicking on the “unsubscribe link” provided in such communications. We make reasonable efforts to promptly process all unsubscribe requests.
Service-Related Emails: We also may use your Personal Information to send you Services-related informational email communication. You may not opt out of such Services-related communications.
If you do not wish to receive further e-mail communications from us, you may click here to unsubscribe.
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 here.
If you have any questions about reviewing or modifying your personal information, you can contact us directly at email@example.com.
Our Services do not respond to Do-Not-Track signals from your browser at this time.
AAG does not knowingly collect or solicit any information from anyone under the age of 13 or knowingly allow such persons to register as Users. The Services are not directed at children under the age of 13. In the event that we learn that we have collected Personal Information from a child under age 13 without verification of parental consent, we will delete that information as quickly as possible. If you believe that we might have any Personal Information from or about a child under 13, please contact us at firstname.lastname@example.org.
We are not responsible for the practices employed by websites or services linked to or from the Services, including the information or content contained therein. Please remember that when you use a link to go from the Services to another website, our Privacy Statement does not apply to third-party websites or services. Your browsing and interaction on any third-party website or service, including those that have a link or advertisement in our Services, are subject to that third party’s own rules and policies.
If you have any questions about this Privacy Statement or the Services, please contact us at 866-254-9903, email us at email@example.com, or write to us at:American Advisors Group
We may modify or update this Privacy Statement from time to time to reflect the changes in our business and practices. When we change this Privacy Statement in a material manner, we will update the ‘last modified’ date at the bottom of this page. We encourage you to review this Privacy Statement whenever you use our Services in order to stay informed about our information practices.
To the extent not prohibited by law, any amendment or update to this Privacy Statement will apply to Personal Information that we already have collected and to any Personal Information that we subsequently may obtain. When required by applicable law, however, we may provide you with advance notice of any changes to this Privacy Statement and with an opportunity to object to such changes. If you exercise your right to object, the changes will not become effective with respect to your Personal Information, but your ability to use our Services may be terminated or impaired. We will explicitly notify you of the consequences of objection or non-objection to the extent and in the manner required by law.
This Privacy Statement was last modified on March 15, 2019.