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Event Details
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Educational Seminar - THIS Tuesday
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Compliance Requirements for Seller Financing
YES...
It's true. You don't have to be, or use, a licensed RMLO (Residential Mortgage Loan Orignator) to handle your seller financing deals - at least, not until next summer, if you do five or less seller financed deals in 12 months.
BUT...
You still must comply with all of the new amended federal laws and rules regarding seller financing - on every deal you do.
.
Do you know what they are?
The official notice on August 17th regarding the postponement of the requirement for RMLO licensing until next summer, included the following crucial reminder by the TDSML Commissioner, Doug Foster:
o Do you know all of the disclosure laws?
o Can you compute APR?
o Do you know the current definition of a "high priced loan"?
o These are just a few examples of the compliance requirements.
" The Department holds the position that exemption from licensing does not relieve that individual from complying with all applicable laws and rules pertaining to disclosures required by RESPA, new GFE, TILA, APR, new HOEPA, High Priced Loans, etc. and the timing of each disclosure and rule ".
If you think you might do one seller financed deal any time in the future, then you need to come and find out all the new provisions with which you are required to comply - with or without an RMLO license.
" Compliance Requirements for Seller Financing "
presented by
Jerry Rutledge and Rachel McNamara-Cahill,
Alliance Academy,
Real Estate Attorney
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~ Please note special location. ~
Educational Seminar
7:00 - 9:00 pm
Seating Limited.
Location:
Hyatt Place - North / Galleria
5229 Spring Valley Road (at the Tollway)
Dallas, TX 75254,
Your Investment:
Advance (online) thru noon August 29: $20
After August 29 and At the door*: $29
(*if space is available)
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When & Where
Hyatt Place - Northj/Galleria
5229 Spring Valley Road
Dallas,
TX 75254
Tuesday, August 31, 2010 at 7:00 PM (CT)
Add to my calendar
Hosted By
North Texas Association of Real Estate Investors
