BEST STRATEGY FOR REAL ESTATE INVESTORS
Offering owner financing packs a lot of benefit for investors . First of all , it can help speed up sales . Real estate ads promoting seller financing can get a lot of attention . More investors , renters , and regular buyers are seeking them out . This not only helps to move property fast , but can also help boost resale prices . These buyers are typically more payment sensitive than price sensitive . This can yield a superior ROI .
The creation of a new asset in the seller-financed mortgage note also provides the ability to enjoy steady streams of high-yield passive income , along with the flexibility to cash in and reclaim lump sum payments by reselling the note or portions of the payments .
Of course , one of the best and most important benefits of this real estate strategy is helping others . Offering seller financing is a great service that helps individuals and families to enjoy the advantages of homeownership , while supporting local neighborhoods .
THE NEW RULES OF SELLER FINANCING While seller financing is attractive to both buyers and sellers , there are some challenges for investors . The biggest is just the murkiness and uncertainty of the legalities of offering seller financing today .
The institution of the Dodd- Frank Act wreaked a lot of havoc on this sector . It sowed a lot of confusion and misinformation . Seller financing is still legal under
Dodd Frank . Yet , it is true that that are new rules and compliance regulations . Specifically , sellers are required to use third party licensed RMLO ( Residential Mortgage Loan Originator ) services to facilitate the transaction . Even where this isn ’ t a legal mandate , investors need to know their responsibilities for qualifying borrowers , maintaining documents , and the terms which can be offered or which may trigger issues .
The services of an RMLO company can provide clarity on this , as well as organization , help with the labor of dealing with prospects and managing the paperwork , as well as empowering investors with the understanding of what makes truly valuable notes in the secondary market space .
RMLO SERVICES BY TEXAS PRIDE LENDING Texas Pride Lending is a state licensed RMLO providing many of the previously mentioned services to local , national , and international property investors . These services help to keep investors compliant , minimize their risk , stay organized , and to maximize their profit potential , without breaking regulations .
Texas Pride Lending does this by providing pre-qualification and verification of borrowers and their key information , preparing
The RMLO underwriting package provided by Texas Pride Lending includes :
1 . STATEMENT OF COMPLI- ANCE
2 . QUALIFIED MORTGAGE
REPORT 3 . CREDIT REPORT 4 . PROOF OF INCOME 5 . REQUIRED LOAN DISCLO-
SURES 6 . SUPPORTING UNDERWRIT-
ING DOCUMENTS 7 . CLOSING DISCLOSURE
At Texas Pride Lending , these services are reasonably-priced and can be paid by either the seller or buyer at the time of closing . Most important ; this RMLO can turn around files in as little as 24-48 hours .
the required loan disclosures and documents , all within 48 hours ! They also assist in connecting investors to friendly , competent service providers for title and loan servicing . v
Executive director of Texas Pride Lending , Sarah Montes has over 10 years experience in residential mortgage lending and owner financing . As one of the true specialists in this area , with a network of equally experienced professionals to serve investors with their needs for servicing and closing loans , investors will be hard pressed to find a resource as valuable for making seller financing work . Find out more about this RMLO or get in touch to get your next deal on the fast track to closing , visit : www . TexasPrideLending . com or call 800.515.0445 or visit : 14114 North Dallas , Parkway , Suite # 160 , Dallas , TX 75254
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