Otherwise, they are only open for him in Illinois for now.It's always good to have a healthy amount of skepticism.RESPA laws are very strict on owner occupied properties and that's one of the reasons Fannie Mae and Freddie Mac exist. 

I googled the current owner "Federal Home Loan Mortgage Corporation" Turns out that's a synonym for Freddie Mac. 

I've had Macs for years, but I'm ready to switch to PC based for the better pricing.

Most institutional portfolio lenders use Fannie/Freddie uniform paperwork / deeds of trust / etc, so the stuff you see at the county recorders office can say "Fannie Mae / Freddie Mac" all over it in spite of it being anything but a Fannie/Freddie loan.I've never personally been involved in mortgage-related litigation (knock on wood), the above are my best guesses based on zero formal training or education in law.

Quote from @Scott Mac: One way to look at it is "Preservation of Asset Value".If the neighborhood has wood, and you go odd man out an put in something else, or just leave it run down your valuation against comps in the area may suffer.But if you put in a better, 'cooler' product, you could reap benefits by being the best on the block, right?

Quote from @Scott Mac: Trying to hold property owners responsible- morally - for society's failure to be able to properly house and care for all of the elderly people in the USA seems misplaced.

@Scott Mac This is great , easy to understand and easy to remember 😉

They sell off the loan to a loan service company that is backed by Fannie Mae or Freddie Mac.

Mike The is no denying that The Big Mac Index is great for bringing to light the purchasing power of a dollar against other currencies.

The Freddie Mac Small Balance Loan Program is another option. http://www.crefcoa.com/apartment-rates-main.html The credit score of the borrower is less important than the cash flow of the property and the experience of the borrower.