Reblogged from Texas Association of Realtors press Release 8/20/2010 with permission
SELLER-FINANCING LICENSING EXEMPTION REINSTATED
AUSTIN (Texas Association of Realtors) - Texas Department of Savings & Mortgage Lending Commissioner Doug Foster has issued a notice allowing the continuation of the de minimis exemption until further action is taken by the state legislature.
This exemption, which was briefly repealed by the federal SAFE Act, means that a seller can once again finance up to five properties in a 12-month period without being licensed as a residential mortgage loan originator.
Linda Jamail Marshall, Broker,ABR,OSC,RECS
Innerloop Houston Tx. Specialist
2011 FIVE STAR Agent-Texas Monthly Magazine
713-523-4600, info@LindaMarshallRealtors.com
