SAFE Act

[James Gravitt]

There may be plenty of discussion on this subject already.  But how are the Lonnie Dealers working around this?  Is there something new to do?  Any help would be appreciated.

[John Lowe]

You may want to consider complying with the regulations. Despite all the wringing of hands and gnashing of teeth by investors, the hurdles aren't that high. If hiring a licensed RMO isn't cost effective, getting a license isn't too onerous in most states: take a 3 day class, and have a decent credit history. Some states have additional requirements, like bonding, but most folks on this forum could jump through the necessary hoops. Your state, Texas is one of the easier ones.

Here's a link to the requirements by state:

http://mortgage.nationwidelicensingsystem.org/slr/Pages/default.aspx