I am looking to get information about loan servicing.  Not sure this is the right forum or not but hopefully someone can help me out.  I have heard on the podcast and also read that there are limits to the number of owner finacing deals that an individual can do unless they are license or use a servicers.  Can someone explain those limits or point me to servicers that they have used.  I am looking to sell a few properties on notes and want to make sure I am in complainace. Also is there a difference between a servicer and a mortgage orginator 

Thanks

@Jeffrey Holst there is a "Tax Lien, Notes, etc." forum.  It's under "Real Estate Strategies".  I would absolutely post this in that forum.  Feel free to leave it here too just in case but do post in the other forum for the best responses.  Thanks!

@Andrew Postell Thanks cross posted.  

Using a services is an across the board requirement I believe, it doesn’t allow you to do more owner financed deals to owner occupants.
Yes a MLO is different, they qualify the buyer and keep you straight during the origination process.

@Jeffrey Holst
The first question is will these be owner occupied or you lending to non-owner occupied
If owner occupied then you need to comply with Dodd-Frank. The state these are in also plays a major role as in some states you just be licensed to be the mortgage holder etc.

You can get a MLO but I would recommend talking with a title/closing company to confirm what requirements you need to meet. Once you understand that then you can review servicing companies which there are many mentioned here on BP

Originally posted by @Chris Seveney :

Jeffrey Holst
The first question is will these be owner occupied or you lending to non-owner occupied
If owner occupied then you need to comply with Dodd-Frank. The state these are in also plays a major role as in some states you just be licensed to be the mortgage holder etc.

You can get a MLO but I would recommend talking with a title/closing company to confirm what requirements you need to meet. Once you understand that then you can review servicing companies which there are many mentioned here on BP

Thanks for the response. I will ask at our usual title company I hadn't thought of that.  These properties will be owner occupied and primarily in Michigan.