Lied in the seller disclosure as well.The guy is a realtor , broker and has a couple business.

A promissory note and deed of trust are important but there are also other disclosures and documents you should collect to help protect the loan - Lender's Title Policy in 2nd position behind the bank loan, Loss Payee on the hazard insurance policy binder behind the mortgage lender so your parents get reassurance they'd be paid back if there were any claims that need to be made.

I almost wonder if this question is a plant of some sort just to gauge the types of responses it would generate, so I'll take the bait in the even that this is a bot or troll (full disclosure, my career is not in any way related to the success or failure of the RE market).

The key is FULL DISCLOSURE - so that everyone understands the risks, the ways to mitigate some of the risk, and the advantageous to be gained.  

Full disclosure: I am a student of his program.

@Isaac Blocher  yup you can't orginate loans in CA without a brokers licnese or RMLO .. simply get a RE broker to do your disclosures. 

Privacy Considerations Anonymity: Some states allow LLC owners to maintain greater privacy by not requiring public disclosure of the members.

@James McGovern- most lenders can get underwriting done  that fast  as long as they are provided with 100% of the data they need PLUS getting any disclosures needed signed immediately too 

It seems like these are non-owner occupied commercial purpose business loans, so TRID disclosures don't apply, which is why they are able to keep changing the numbers up until you sign.

Full disclosure I’ve only recently acquired a few properties so I don’t have years of experience I just know that when I was making my decisions on where to invest I did use that site, but not exclusively.