SELLER / LENDER
Are you up to date and in compliance with the January 2014 requirements of the Dodd Frank Act? Do not leave yourself vulnerable to regulatory gaps and oversight. Loan Originator Services, LLC provides Origination and Compliance services for Seller Finance/Lender real estate mortgage loans.
Are you aware that:
- A Loan Originator must be used for most residential and unimproved lot loans.
- A Seller/Lender will only be allowed to finance a small number of lot loans within a twelve month period without using a loan originator. However, loans must be in compliance with all regulatory requirements.
- A Residential Borrower will be required to be “qualified” by using extensive regulatory standards.
- Many Banks are choosing to only allow lenders to use notes as collateral where a licensed loan originator was used. Notes for sale are in higher demand if a loan originator was used.
The good news is that the cost can be passed on to the buyer. It can cost you nothing to be protected.The risk of not being in compliance with Federal and State regulations can be devastating.
Loan Originator Services, LLC will help you meet regulatory requirements by originating your loan, qualifying your borrower and providing the required disclosure documents within the governmental mandated time frame. We are licensed by “Nationwide Mortgage Licensing System” (NMLS), as required by the “Secure and Fair Enforcement for Mortgage Licensing Act” (S.A.F.E. Act) and the Dodd-Frank Act. There by, protecting you from possible financial loss and/or loss of property due to penalties or lawsuits.
In today’s world of constant changes in mortgage lending regulation, the need is greater than ever to make sure that the Seller/Lender, meets all Federal and State Compliance requirements when extending credit to its borrower. With years of experience in seller financed real estate lending, constant research and continual training Loan Originator Services, LLC is the choice for your Origination needs.
Contact the licensed professionals of Loan Originator Services, LLC. today.