The docs that we use have been created by lawyers to be compliant with the Dodd Frank act and are very specific in this regard.

Additionally, they can definitely expose themselves by NOT qualifying potential borrowers that meet guidelines.I can tell you without question that when I was an lender myself (probably the single worst lender in the history of lending) at a small B paper company in the late 90s, we would definitely give better loans to minorities, just to remain compliant of ratios, etc. 

Just because a wholesaler puts verbiage into a contract giving them the right to assign the contract does not equate to that contract being legal or compliant with state laws. 

@Jeff Rabinowitz You should still be able to sell with owner financing, PM if you want and I can hook you up with resources that can get this done in a way that is fully compliant with DF.Also , if the property is in your name, you can sell one property a 12 month period under Dodd Frank and get a pass.Bob

Being less than fully compliant will quickly and possibly substantially dwarf that annual savings of $600.

Consider hiring a consumer reporting agency that specializes in background checks that way your background checks are FCRA compliant and all legal requirements are met. 

I’ve had many long term tenants that are very compliant all of a sudden when we announce substantial rent increases, that even five short years ago nobody could’ve fathomed.  

They will then go underground, become even less compliant, and the city missis out on a lot of tax.

Then select Check compliant status.  

If you go over 3 O/F deals a year then you will need to utilize an RMLO to qualify your buyers and make sure you are D-F compliant.