How Dodd Frank Mortgage Laws Apply to Seller Financing

Save the date! New Dodd Frank laws for seller financing and mortgage loan originators take effect January 1, 2014 (*see date revision information below). While it’s not a match made in heaven it’s also not the end of the note buying world as we know it. How Seller Financing Met Dodd Frank In reaction to the mortgage crisis lawmakers passed the Dodd Frank in 2010. This act placed new requirements on loan originators. It also built upon earlier initiatives of the Safe Act of 2008. Lumped into … [Read more...]

Owner Financing, Seller Financing, Dodd Frank, Safe Act, and You!

Tired of hearing about owner financing laws? We share your pain. First the Safe Act had a say on Seller Financing and then the Dodd Frank Act. Why the government would want to slow the housing rebound further by putting stringent restrictions on seller financing - one of the few alternatives to bank financing available in today's struggling  economy - is beyond us. And it's not over yet. Government agencies are still sorting through how to implement portions of the laws affecting both … [Read more...]