Honestly, those conversations were literally life changing for me as it gave context to the craziness that I was seeing and it allowed me to position myself accordingly for the eventual (and in my opinion), inevitable downfall that was to come.https://www.forbes.com/2008/07...The government regulates what bankers / lender -CAN- do.

When I first started lending IN Detroit I actually brought my banker from Oregon with me.. and we sat down with the title company owner and he explained ( in these yeasr 2002) that Wayne county is like 60 days behind Always recording documents.Where as West coast it happens the day you fund..

Study the things that are going to be major issues:Pensions are underfunded and are now being run by the bankers who crashed the housing market.

Now there are shady whole sellers, ones that don’t disclose their intentions, ones who don’t know squat about arv, or repair costs, or that try to burn others but there’s also predatory agents, and bankers who never get caught and they have very heavy oversight.

My banker has a 16 unit here in PDX 100% Hispanic and it just gin's right along but you do have to deal with grease and a turn over because of so many people living in one unit is usually carpet paint some plumbing etc.

An overlay is where the lending banker increases the minimal standard to the guideline in order to avoid a put-back of the loan or re-purchase of the loan.  

Had lunch with my community banker of 22 years this week.. we talked about this very thing.. they used to make loans to their pref. clients.. to buy personal resi's  Mainly B/C these are business owners who had troubles with conventional lending.. ( myself included)..

Every single professional activity in RE, attorneys, closing agents, realtor, banker/lenders, appraisers and anyone else dealing in real estate who is aware of rules of the road all support the professional requirements of their industry, you never know who won't like your haircut and turn you in.Can you wholesale legally?

I know when I did my NMLS  ( mortgage banker) that's what they looked for.

Meeting with a banker?