Is there a regulatory body that can step in?  

DORA - The deparment of regulatory affairs has a list of education programs and their first time pass rate.

HA argues that their service fee is to help with the regulatory stuff they do as well but realistically it comes to the home owners and local support.

Cali has very high taxes and a lot of regulatory hoops.There are some amazing loans for multifamily development right now.  

We belong to the California Mortgage Association to stay on top of things like Dodd-Frank (which still hasn't completed it's regulatory fun), California law changes like SB978, and other major issues affecting the lending industry.

Account Closed  the other reason this model works for those with the MONEY is they do not have to go through the NMLS stuff that lenders have to do in 18 states so they can go nationwide with no regulatory issues.and being a Eugene based company they would have to be NMLS licensed to make any rehab loans in any state in the US... just like I was for all those years.they are very active in Oregon.. especially the rural counties.. its were they got their start.

I'm not looking to be an active listing agent, however I'm looking to acquire my sales license for 3 reasons: (1) Access to the FMLS. (2) A good learning tool to learn more of the legal, financial and regulatory aspects of real estate. (3) When we're in a seller's market and with a few more years of experience, the ability to list properties independently.Would be open to any and all feedback :)

In terms of regulatory history, this is rather new and it is real.Jumping into real estate thinking houses are just widgets or a commodity will lead to trouble, real estate is unique and so are the regulations.

There is also the fact that now you will be under the scrutiny of the real estate commission and other regulatory agencies.  

As the ones raising money from you they have a fiduciary duty to you and it is certainly in their best interest to make sure you are satisfied if something went wrong.The only thing I can think of is if something was missed they may still be looking into it as there are definite ramifications if they truly missed something easy and they must now look into what happened before making a communication that could later be used in any subsequent action (legal regulatory etc.).