Seller Financing News and Information

Real Estate Broker/Owner - Note Builders, Inc. Keller Williams
SAFE ACT FINAL RULETomorrow, August 29, the SAFE Act final rule goes into effect. Note Builders would like to takeanother look at the final rule and its references to real estate professionals and financing.The final rule, again, clearly states that the financing aspect in a seller financed scena...
Note Builders, Inc. is the first entity in the real estate brokerage and mortgage space to successfully ensure compliance with the new seller finacing regulations in the marketplace. Our mission is to originate compliant notes and maintain the value of the notes for our investors in the secondary...
The SAFE Act final rule effective date is August 29, 2011.  Brokers involved in negotiating seller carryback transactions will be under intense scrutiny at the end of the month.   We would like to look at the specific passage in the final rule that addresses real estate professionals in the selle...
Seller Financed Higher Priced Mortgage Loans Require Full Disclosure!!Effective 4/1/11, the Truth in Lending Act was amended with respect to many items. Among theprovisions amended was section 226.35. 226.35 has to do with higher priced mortgage loans. Whenthe CFPB codifies the final rule, higher...
The following excerpt is to HUD Secretary Donovan, from Representative Frank and Senator Bachus. The passage addresses a minimum standard believed to be safe, (no pun intended) from Mortgage Loan Originator (MLO) licensing requirements in the S.A.F.E. Act. The letter encourages HUD to allow selle...
On June 30, 2011 the Department of Housing and Urban Development released the Safe Act Final Rule. Thisdocument clarifies many potential issues on seller financing and licensing and goes into effect on August29, 2011. HUD is interpreting the issue of Brokers and seller financing transactions very...
Amended TILA: Sec. 226.36 - Prohibited acts or practices in connection with credit secured by a dwelling. (a) Loan originator and mortgage broker defined. (1) Loan originator. For purposes of this section, the term ‘‘loan originator’’ means with respect to a particular transaction, a person who f...

Terry Lewis

Seller Financing, Lending, Broker
local_phone(855) 366-6837
smartphone(858) 224-3139
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Note Builders is a MLO, licensed in California. Specializing in seller financed compliant transactions. Dodd Frank and the S.A.F.E. Act require a MLO to sign off on many of owner carry transactions.