Finance
Under the Dodd-Frank Act, a seller who provides financing for more than three properties per year in Texas must comply with:
ATREC licensing requirements
BSAFE Act mortgage licensing requirements and TILA disclosure rules✓ Correct
CCommercial lending standards only
DTexas Department of Banking registration requirements
Explanation
Under Dodd-Frank, sellers who provide financing for more than three properties per year must comply with mortgage lending regulations including SAFE Act licensing (or use a licensed mortgage loan originator) and TILA disclosure requirements.
Related Texas Finance Questions
- An amortization schedule for a Texas mortgage shows the allocation of each payment between principal and interest. In an early payment, the interest component is larger because:
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