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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] update sent to me Posted by hard money lender on February 19, 2010 at 12:52 AM In Reply to: HUD - Interpreting SAFE Mortgage Licensing ACT posted by hard money lender on February 12, 2010 at 9:37 AM Looks like you have another chance to make your voice heard. Investors and Real Estate Brokers and Exchangors have apparently succeeded in getting the attention of HUD by making their voices heard regarding the Safe Mortgage Act. The new deadline to make your comments is Friday, March 5th. As you know HUD is proposing to eliminate ALL residential seller financing unless the seller lives in the home or become a licensed mortgage originator. On Monday, Feb 22 at 7:00 pm CST, Eddie Speed, President of Colonial Funding Group, LLC and the NoteSchool will be hosting a telephone conference with former SMU law professor and attorney Bryan Dunklin, who will be sharing his perspective of the Safe Mortgage Act and what it means for seller financing. So, it looks like there are at least Two things you still can do: 1. Tell HUD how restrictions will affect you and your business. PLEASE SUBMIT YOUR COMMENTS TO HUD! Follow these simple steps: 1. Logon to www.regulations.gov You will see two white boxes for searching 2. On the left box labeled "Document Type", pull the menu down and select "proposed rules" 3. On the right box labeled "Enter keyword or ID", enter "safe mortgage". Then, press search 4. Locate the blue search result "FR-5271-P-01 Safe Mortgage Licensing Act: HUD Responsibilities Under ...." To read the rules, click on this title. You will be taken to another page. You will see "views". You can click on PDF file or another symbol which will show you the rule document online. 5. On the right of the screen, click on "submit comment" 6. Complete the form providing required information and your comments and then submit What do you say? Say what you feel, but say it politely! The message should include that you would like the definitions in the proposed rules to be changed so that private individuals can originate and service loans on properties they personally own. Some ideas from others: • bank loans are not available on some types of properties • the tight lending climate has made bank financing "out of reach" for many • seller financing is an "age old" tradition based on private property rights 2. Register and listen to this call on Monday night. http://noteschool.com/register/hudcall.php?Id=1578 Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Looks like you have another chance to make your voice heard. Investors and Real Estate Brokers and Exchangors have apparently succeeded in getting the attention of HUD by making their voices heard regarding the Safe Mortgage Act. The new deadline to make your comments is Friday, March 5th. : As you know HUD is proposing to eliminate ALL residential seller financing unless the seller lives in the home or become a licensed mortgage originator. : On Monday, Feb 22 at 7:00 pm CST, Eddie Speed, President of Colonial Funding Group, LLC and the NoteSchool will be hosting a telephone conference with former SMU law professor and attorney Bryan Dunklin, who will be sharing his perspective of the Safe Mortgage Act and what it means for seller financing. : So, it looks like there are at least Two things you still can do: : 1. Tell HUD how restrictions will affect you and your business. : PLEASE SUBMIT YOUR COMMENTS TO HUD! : : Follow these simple steps: : 1. Logon to www.regulations.gov You will see two white boxes for searching : 2. On the left box labeled "Document Type", pull the menu down and select "proposed rules" : 3. On the right box labeled "Enter keyword or ID", enter "safe mortgage". Then, press search : 4. Locate the blue search result "FR-5271-P-01 Safe Mortgage Licensing Act: HUD Responsibilities : Under ...." To read the rules, click on this title. You will be taken to another page. You will see "views". You can click on PDF file or another symbol which will show you the rule document online. : 5. On the right of the screen, click on "submit comment" : 6. Complete the form providing required information and your comments and then submit : What do you say? : Say what you feel, but say it politely! The message should include that you would like the definitions in the proposed rules to be changed so that private individuals can originate and service loans on properties they personally own. Some ideas from others: : • bank loans are not available on some types of properties : • the tight lending climate has made bank financing "out of reach" for many : • seller financing is an "age old" tradition based on private property rights : 2. Register and listen to this call on Monday night. http://noteschool.com/register/hudcall.php?Id=1578 [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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