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COMPLIANCEwith Seller Finance Regs — a training seminar
November 8, 2018 @ 7:00 pm - 9:00 pm$20 – $44
it’s too late – the hammer is falling! Ouch!!!!
Or, You left a better deal on the table. ..
Either way, it’s a bad – and unnecessary – problem.
Just make sure you know what you need to know.
Regulatory Compliance Required
for Seller Financing.
The RMLO issues.
Thursday, Nov. 8.
Following the ‘Crash of ’08’ (and because of it), new federal and state legislation (Dodd-Frank Act, SAFE Act, etc.) were enacted to restrict and control the seller financing of real estate to consumers. Compliance with these restrictions and requirements can be somewhat complicated, and failure can be painful, and they affect virtually all seller financing real estate transactions with home buyers, and
the penalties can be HUGE.
And the ultimate responsibility (and liability) for your full compliance always rests with you.
2. You can just not do seller financing at all, and miss out on lots of money, especially while credit is so tight.
3. You can come find out how you can still do seller financing and avoid getting hammered.
Seller Financing Regulations and the Penalties:
It’s a little like being in Shark-Infested Waters and You are the Bait.
“ A lot of smart defense attorneys are going to jump on this situation, because there are potentially big bucks involved, and the letter of the law appears to favor their clients (the borrowers). It could cost investors a lot of money. The attorneys are going to know the regs inside and out, and they are going to comb the details of each disputed loan. Plus, the ‘case law’ on this may still be years away. So, in the meantime, there could be a lot of vulnerable seller finance notes created by unaware investors.“ Anonymous
Mindy will walk you through the current details and status of these seller financing regulations. She will explain the requirements, limitations, options and risks, and guide you to success, with safety, in the new world of seller financing.
- What types of investors (lenders) and what types of loans are regulated?
- What are the limits on the number and sizes of seller financed loans we can do?
- The crucial steps in the process.
- What is involved in qualifying borrowers, and why is this so important?
- The consequences of errors or omissions.
- Overcoming restrictions with alternative solutions.
- What is the requirement/option on becoming licensed?
- New regulations from the Consumer Financial Protection Bureau (CFPB).
- The importance and status of the “Qualified Mortgages” Rules.
- The future of Dodd-Frank enforcements.
- And much, much more.
If you are absolutely certain that you would never even consider buying, or selling a property using seller financing (even to a close relative), or taking, or giving, a ‘subject-to’ deal (with existing seller financing), or buying, or selling, a seller-financed note, or taking one as collateral, or in any other way, directly or indirectly, becoming the holder or mortgagor on a seller financed note, then maybe you are safe not knowing this information. Otherwise, this is must-know information for you.
The need for you to understand the regulations is important even if you are planning to always use an RMLO on every transaction.
Please REGISTER NOW – see below time, location and admission fees.
[ Paid registration required to attend. ]
Seating is limited. It is possible for this event to sell out in advance. Also, if sufficient Advance Registrations are not received, this event may be postponed or cancelled (refunds provided.)
Learning through training is cheaper.
About the Trainer: Mindy Henderson is a very experienced and successful investor / rehabber, as well as landlord, property manager, Broker, and licensed RMLO (residential mortgage loan originator). Mindy started her real estate investing career as a hands-on rehabber. She most enjoyed working on the really big projects (“taking it back to the studs”). Until about nine years ago, she was working full time to buy a house every six weeks, rehab it and hold it as rental property.
With the introduction of new federal regulations (Dodd-Frank), she became one of the first RMLO’s licensed in North Texas and built a loan processing firm which was rated A++ and one of the very top in the state. She has been very active in assisting local investors with the creation of seller financed transactions. And she has officially received the highest possible rating on her loan servicing operations by the Texas Department of Savings and Mortgage Lending.
If you have ever heard Mindy speak in her previous seminars, you know that she is an especially competent presenter – very knowledgeable, and very organized – which makes for an exceptionally informative and valuable presentation.
” REGULATORY COMPLIANCE REQUIRED “
Advance Registration (online) – thru Nov. 7 – $20
Registration After Nov. 7 and *at the door – $29
Spouses of Annual Members – half price. *(if space is available)