Seller Financing - Condo Declarant - PA

[Gary Kaucher]

My wife and I are the Declarant for 32 residential condo units that we built in Pennsylvania between 1984 - 1987.  We sold 26 of those units then, and retained 6 units that we have leased out over the past 28 years. Since we still own units, we are still considered to be the Declarant, even though we gave up control of the Condo Association in 1987. We would like to gradually sell the the remaining 6 units, providing seller financing with a 10 year balloon. How do I do this and still comply with the Dodd Frank Act?

-Am I obligated to hire a licensed loan originator? How much should loan origination cost?

-Will Dodd Frank allow me to include balloon payments, or does the fact that I built these condos eliminate me from the 1 time per year exception?

-Is it unwise to have the mortgage servicing done by a national  company like FCI or Green Tree, or are there local servicing companies here in my jurisdiction of Bucks County, PA that could provide this service competitively?

-Does my continued status as the Declarant somehow exclude me from any of the Dodd Frank restrictions? 

Thanks,

Gary