The regulators don't like it, examiners don't like it and neither do state and federal entities.

Purchases of new homes climbed 7.8 percent from the previous month to a seasonally adjusted 539,000 annualized pace in February, a seven-year high, according to the latest U.S. government report.

More important is that anyone who lends money to anyone scrupulously follows their state and federal law.

The scenario above is a government/commercial project setting, not residential.

Code pt. 1450, govern the business of real estate brokerage in Illinois.The Act, as amended, defines a real estate “broker” as an individual, partnership, limited liability company, corporation, or registered limited liability partnership other than a real estate salesperson or leasing agent who, whether in person or through any media or technology, for another and for compensation, or with intention or expectation of receiving compensation, either directly or indirectly:(1) Sells, exchanges, purchases, rents, or leases real estate.(2) Offers to sell, exchange, purchase, rent, or lease real estate.(3) Negotiates, offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental, or leasing of real estate.(4) Lists, offers, attempts, or agrees to list real estate for sale, lease, or exchange.(5) Buys, sells, offers to buy or sell, or otherwise deals in options on real estate or improvements thereon.(6) Supervises the collection, offer, attempt, or agreement to collect rent for the use of real estate.(7) Advertises or represents himself or herself as being engaged in the business of buying, selling, exchanging, renting, or leasing real estate.(8) Assists or directs in procuring or referring of leads or prospects, intended to result in the sale, exchange, lease, or rental of real estate.(9) Assists or directs in the negotiation of any transaction intended to result in the sale, exchange, lease, or rental of real estate.(10) Opens real estate to the public for marketing purposes.(11) Sells, leases, or offers for sale or lease real estate at auction.

Then you'll need to check for bankruptcies and federal liens, but I can't remember if those are available online without a paid subscription service.Or, you can talk to a title company about just doing an "O&E" report (Ownership & Encumbrance).

However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument.If Lender exercises this option, Lender shall give Borrower notice of acceleration.

is it true that:- Private property owners who do not own or have any interest in more than three single-family houses at one time are exempt from the federal Fair Housing Act of 1968?

Like you, I had coverage for 25 years through my employer (municipal government).

Low barrier to entry to become "licensed" by a government agency.