SAFE Act Affecting Lonnie Deals

[Philip Bourdon]

Hi. Here I was feeling excited about doing Lonnie deals in the Fall when I have access to 80+K, and then I read about the SAFE act. There have been many helpful comments about it, but there has also been much confusion.

If anyone here can tell us how to operate as a Lonnie dealer and still be compliant, please tell us. My questions are:

-Who can are the Mortgage Originators (hopefully I have the right term)?
-How much does it cost?
-How long does it take?

Namely, let’s hear what the process entails. I’m sure many will just crank out the buy/sells, but that’s taking a big chance without compliance.

Thanks,

Philip