Texas Consumer Disclosures

The Clear Close dba West Capital Lending, Inc.  ·  NMLS # 1566096  ·  Texas SML Licensed

About Our Texas License

The Clear Close, operating as a dba of West Capital Lending, Inc. (NMLS # 1566096), is licensed to originate residential mortgage loans in Texas through the Texas Department of Savings and Mortgage Lending. Our individual loan originators hold SML-issued Residential Mortgage Loan Originator Licenses.

Texas residential mortgage loan originators are licensed and regulated by the State of Texas. You may verify license status at www.nmlsconsumeraccess.org using our NMLS number (1566096) or the individual originator's NMLS number.

Texas Home Equity Lending — Special Disclosures

Texas homeowners who use their home equity for a mortgage loan are subject to protections under Article XVI, Section 50(a)(6) of the Texas Constitution ("Texas home equity rules"). These rules govern:

• Maximum loan amount: A Texas home equity loan (including any existing liens) may not exceed 80% of the fair market value of the home at the time of closing.
• One loan at a time: Only one Texas home equity loan may be outstanding against a homestead at any one time.
• Cooling-off period: You have the right to rescind a Texas home equity loan within three business days after signing.
• 12-day advance disclosure: You must receive closing documents at least 12 days before closing on a Texas home equity loan.
• Fees cap: Fees and closing costs on a Texas home equity loan may not exceed 2% of the loan amount (certain fees are excluded from this cap).
• Homestead protection: A Texas home equity loan may only be made on a homestead property. Investment properties are not eligible for Texas home equity products under Section 50(a)(6).

These provisions apply to Texas home equity lines of credit (HELOCs) and cash-out refinances on Texas homestead properties. We will clearly identify any transaction subject to these rules and explain your rights before you sign any documents.

How to File a Complaint

If you have a complaint about a mortgage loan originator or our company, you have the right to contact the Texas Department of Savings and Mortgage Lending directly. The process:

• Download the complaint form from www.sml.texas.gov/consumers/complaint.html
• Complete the form with details of your complaint, including relevant dates, loan numbers, and the name of the loan originator
• Mail the completed form to: Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705
• Or call the toll-free hotline: 1-877-276-5550

You may also contact us directly to resolve any concern before escalating to the regulator. We are committed to resolving all issues promptly and fairly. Contact us at [email protected] or (949) 685-5079.

Texas Office of Consumer Credit Commissioner (OCCC)

In addition to SML, certain consumer credit transactions in Texas are regulated by the Office of Consumer Credit Commissioner (OCCC). If you have a question about whether OCCC has jurisdiction over your transaction, you may contact:

Equal Credit Opportunity

It is illegal to discriminate in any credit transaction:

• On the basis of race, color, religion, national origin, sex, marital status, age
• Because all or part of your income is from a public assistance program
• Because you have exercised any right under the Consumer Credit Protection Act

If you believe you have been discriminated against, you may contact the Texas Department of Savings and Mortgage Lending at the address above, or the Consumer Financial Protection Bureau (CFPB) at www.consumerfinance.gov or 1-855-411-2372.

Contact The Clear Close

For questions about your loan, our licensing, or Texas-specific disclosures:

The Clear Close dba West Capital Lending, Inc.
17911 Von Karman Ave, Suite 400, Irvine, CA 92614
Phone: (949) 685-5079
Email: [email protected]
NMLS # 1566096  ·  Texas SML Licensed