No regulatory authority governing the niche.Says the guy chasing 2 BKs and a lawsuit today. 

You go with the best terms available.Between PMI, the government backing, and the fact that most banks sell their mortgages to Fannie/Freddie, banks typically have very little (if any) actual risk.

Being licensed gives you the all powerful MLS and brings accoutability/credibility with it. 

Chances of that happening with the lack of government infrastructure is minimal.

This has some risk in that you don't know the credibility of the people from whom you are taking business cards, but in due time you'll know enough people in that group to ask some of those questions. 

Since the property is usually owned by the government or a bank, if that bid is not met then they can decide to hold the property until another time which it will go back up for auction.

I found a property, while D4D and it is seized by the US Government.

That is going to govern who owns the property.

It seems to be following the same trajectory as smoking where there was a complete coverup with blanket denials and government bribes.

My loans are in deferment until the government decides if they will be forgiven due to school closure.