How do you still owner finance with Dodd Frank?

[Braden Souder]

Who is buying and selling with owner/seller financing? How do you do it with the Dodd Frank act? I still don't quite understand that law.

[Grant Kemp]

Braden, for some reason my @tag isn't working you, but I hope you see that you are able to do as many owner financed deals to owner occupants as you please. There are a couple of thresholds to be aware of in doing so: 1) once you do 3 or more in a rolling 12 month period you must comply with RESPA, 2) once you do 5 or more in a rolling 12 month period you must comply with the SAFE act.

My recommendation is to work with a state local RMLO and RE attorney in order to make sure you're staying compliant. Dodd-Frank is really not that bad, and to anyone who actually READS the law, things are set out *fairly* black and white for what we need to do in order to comply. I have clients doing 5+ a month who are unlicensed, but I originate the loan and act as the licensed individual for them in order to keep them in compliance.