Seller financing is subject to new rules following the passage of financial reform legislation. Know these changes in order to serve sellers better.

In 2008, President Bush signed the Secure and Fair Enforcement of Mortgage Licensing Act or SAFE Act, which requires licensing and registration of loan originators. In 2010, President Obama signed the Dodd–Frank Wall Street Reform and Consumer Protection Act into law, which restructures the oversight of financial regulation and includes amendments to the Truth in Lending Act (TILA). Both of these laws will affect seller financing, except to the extent that exemptions apply.

On Jan. 20, 2013, The Consumer Financial Protection Bureau (CFPB) published a final rule on Loan Originator Compensation as part of implementation of the Dodd-Frank Act. Learn more about the impact of CFPB's Loan Originator Rule on seller financing.