There are a lot of people still doing owner finance until next year, and most will set back and see how the DF act will play out. As for as non performing notes, I don't see it slowing down because of the DF act.
Josh, only owner occupied residential loans are required to fall into compliance, actually in originations over the past year, Dodd-Frank kicks in next month.
Actually, the sky is not falling. Those deals that are covered, use a licensed mortgage originator! The LMO will have the last word actually, they can have the note or an attorney can write it, but the LMO approves it.
One of the clarifications that came out was that attorneys can originate a loan in the course of providing legal services, such as selling a property in a Trust they manage for a client, but if they get in the business of originations they need to be a LMO as well.
Typical ? No two deals are ever the same. Search for "3 year 5 year balloon" that may bring up a thread on terms. Another old one is What do you want Mr. Note Buyer. It's back and not sure all the Safe Act stuff is still correct, it's long, but good points in there.
I can say the note business is going to change, if the note was made when compliance was required you have a worthless note if there isn't a LMO number on it, foreclose on a bad note and you can get hit for a wrongful foreclosure...oh what fun we'll have in the next 5 years or so.
As to research, it's called pre-qualifying. I suggest you not try to originate a note, get help. And, don't think any video or forum covers underwriting required, those making instructional materials haven't originated a fannie mae loan in their lives, I'm sure and that is the standard to be followed. There are different ways to originate a note, dual control is required and compensating factors that just aren't mentioned here. It is not a DIY matter. :)