The portal or registered broker requirement is a gate keeper, a mortgage broker will not qualify as a regulated entity as they are talking about being regulated under the SEC and state finance departments, if applicable.It's really designed to dice up equity of a business and a mortgage or a deed can be a security instrument to pledge as a debt (bond) equity would be reflected by a note buyer's portfolio and issuing an interest in the company.

The "deed of trust" (or "mortgage") is the security instrument that gets recorded with the county.

With seller financing, there is a deed transfer and the buyer grants the seller a deed of trust (security instrument) and a note (terms of payment).

This will require current lender approval and is dependent upon that provision being present in his security instrument (mtg/dot).

DOT/Mortgages are assigned by way of Assignments of Mortgage and those instruments are in public record and recorded.

In the end, this issue will come down to how the property is titled and what the legal instrument governing the partnership says.

Once he agreed I called a buddy of mine who has been instrumental in mentoring me and he walked me through the process, and guided me through the forms you need.

What do investors think are the best investments for a SD ROTH instrument?

I understand your comments and concerns that i'm way off base.I didn't expound enough on my original post to include that i'm assuming all purchased non performing notes would be taken through a foreclosure process of some sort, whether via friendly foreclosure, quit claim deed, etc to convert that debt instrument into real property.Out of curiosity, why would it be unethical for an attorney to handle the foreclosure process without assessing any fees for their time?

I would like to speak to a CPA familiar with these instruments to understand the tax implications.