The information is then cross-referenced for accuracy and FCRA compliance, which sometimes includes a call to the county courts for verification.

@David Jackson different strokes at different lenders;Mortgage servicing agreements stipulate due diligence and compliance, the servicer may be empowered to act, the trustee may have instruction to act, that may trickle down to a mid level clerk.

I have never been to Cleveland but I would come for those I think the operators that are not sophisticated enough to understand they are not in compliance within their given states Real Estate Commerce law, or they are simply not a reputable provider and willing to risk either the license or business by compensating any of the marketing folks that are not licensed brokers/brokerages.

So I assured him I would find out the next day about any liens or foreclosures on the property.

The notice also can explain that XYZ TenantScreen got the credit information from ABC Credit Bureau, but that is not required under the FCRA.Written notices provide proof of FCRA compliance.

"The notes secured by owner occupied property have many strings attached, laws, regulations, etc. most far reaching with severe penalties for non compliance.  

I have assured and promised you that these punch list items will absolutely be taken care of. 

There are only three (3) Private Letter Rulings ("PLRs") from the IRS/Treasury on these structures and the PLRs can not be relied up or cited as precedent, so they provide guidance but no assurance that your transaction would not be disqualified. 

Even with technology, it was a nightmare for the PM to enforce due date and late payment compliance and it took her a few months to get all units on a normal schedule.  

Screening your tenants more thoroughly than is typical may give you some assurance that you've done everything you can to set yourself up for good outcomes.