Getting around the Dodd/Frank Act

[Drake Ivy]

Does anyone know who I need to go to to handle the Dodd/Frank Act so I can do owner financing for mobile homes? I live in Texas, preferably anyone in the DFW area

[Mike G.]

@Drake Ivy

as @Patrick McKenna echoed i would offer the same advice. Now here is my disclosure, im not from Texas and every state is different in how they enforce laws regarding this subject. Granted the Dodd-Frank is a national governing act but each state has its own policies and requirements that you need to become familiar with. 

The long and short is. . . . . . .

to play it safe and do owner financing of mobile homes, ( aka Lonnie Dealer) you will be best to get with a mobile home dealer who is licensed and a plus if he is also a licensed Loan Origination broker/officer. This will allow you to legally do Lonnie Deals and operate within the lines of the law. 

In some states, there are government agencies that go after investors who do owner financing in the mobile home space and Texas happens to be one of these states so check these links and do some research. Texas Manufactured Housing Division

Also refer to this page as well Consumer Protection in Texas

From the aforementioned site you will find what the legalities that you will need to stay within to operate your business model in Texas, also for further information and a more detailed clarification i would pass the mic over the @Ken Rishel as his knowledge and insight on this topic makes him an expert on this subject in my opinion.