Neither does your dad unless he's from the finance world and in that case, we wouldn't have this question.Tossing high risk money at some guy who lends it out is a much higher risk than most are aware, especially now with all the laws to comply with. 

As Kyle also mentioned this above, I or the seller can certainly serve that, what if they refuse to comply?

Need to pick a state and then comply there. :) 

The transaction between your firm and the borrower, if you use  registered mortgage loan originator to vet the borrower then you can comply with Dodd Frank.2.

In any event comply with your states time requirement notification to enter unit.

I've heard some will take the "it's a FSBO, you save $, etc" and some won't...the short sale process is long enough so I just want to comply with whatever they want.

In California there are a whole host of disclosures and waiting periods you also have to comply with.

To comply with the law, don't you have to take the first applicant who meets your minimum qualifications (in the order of the time they applied), regardless of whether the second applicant, who applied later, is more qualified?

A general note on recording residential purchases and sales contracts is that they should comply with your state's statute of frauds requirements.

Several on BP have suggested worthy recipients, and I've gladly complied.