The matter of how many "sales" a seller may undertake and still not be required to be licensed as an originator is not defined by federal (CFPB) regulations. 

all mortgage lending on the conventional  side these days is HIGHLY regulated.and any RMLO committing Fraud or ( CREATIVE WORK around would have to have a screw loose)...You must work with in the rules this is creative owner financing  this is the federal Gov

Below is an illustration showing the effects of urban sprawl on investment properties.Las Vegas is one of the few major cities not subject to urban sprawl because it is virtually an island; it is surrounded by federal land.

I can't help wondering about the $7.7 trillion undisclosed Federal Reserve loans that the Bloomberg Report had to use the freedom of information act to get the dirt on.

Account Closed to answer your bolded question first, yes, you can be on the hook for more - federal, state, and local.  

They are being prosecuted under federal bid rigging laws, so this applies everywhere in the U.S.For those who think "partnering" on a sheriff or trustee sale is the answer, you should know there is case law, at least in CA, that makes it pretty clear that if the partnership isn't a real, long term, partnership with division of duties and responsibilities, and is instead for a particular deal it's likely collusion.

If you don't, or if you don't follow both state & federal law, regarding former soldiers, then you run the risk of heavy duty lawsuits over housing rights, do you not? 

You see the FCRA is a federal law passed and amended to improve the quality and accuracy of background checks while protecting the privacy and civil rights of all parties. 

@shanel, To protect yourself as a tenant buyer, I would first go down to a mortgage loan originator with a 1003 application which is a standard federal mortgage application, and ask him her how does my credit,  income history, FICO, debt to  earnings look to you?

Louis Federal Reserve.