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Seller Mortgages Not Loans Says Congressional Research Service
#5 Guru, Book, & Course Reviews Contributor
- Investor
- Sherman Oaks, CA
Seller Mortgages Not Loans Says Congressional Research Service
November 14, 2014 by W. J. MencarowGiven the Dodd-Frank Act’s ill-advised, uninformed and, frankly, insane assault upon seller mortgages as virtually “predatory lending,” members of Congress —who vote on bills they have never read (as a legislative director in the US Congress for years I can assure you that is true) — and cushy-jobs-for-life-can’t-be-fired-no-matter-what-they-do-or-refuse-to-do bureaucrats (who determine how the laws that members of Congress never read are to be interpreted and enforced) need to understand is that seller mortgages are not loans — they are installment sales. (The note industry coalition SaveSellerFinancing.org represents us in this endeavor.)
more...http://papersourceonline.com/seller-mortgages-loan...