SAFE Act

mobile home university
1

I know that this has been discussed before, but I am looking for information on how to become SAFE licensed or work with a SAFE licensed company that allows the park to sell older POH’s to the current occupants.

If it matters, the park I own is in PA.

Thanks,

David

2

hey david…how r u t’day?

i just did a quick google search using the keywords “safe act licensing requirements”. and i got this:

Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act) FAQs…

hope that helps!..

ciao for now…the rei lady…

3

I’m licensed & have been in the mortgage business for 17 years. In Louisiana you can do 10 deals a year without a license.

4

richard.baggett Wrote:

I’m licensed & have been in the mortgage business

for 17 years. In Louisiana you can do 10 deals a

year without a license.

ok. So can each of my entity’s do 10 deals? Is that 10 deals in any 12 month period or 10 per calendar year?

5

Jim, I don’t know. After reading what I’d written i thought I should mention that I operate 6 finance companies. Theyre allowed to do 10 mortgage loans each per yer without a loan officer having completed & passed the test for the SAFE act.

The mobile home parks are seperate LLC’s. I’m contacting OFI (Office of Financial Institutions) today for a clear answer. Keep in mind I’m calling a gov’t entity requesting a clear answer… Could be on hold awhile.

As of today I have not done any owner financing of my mobile homes. I’ll keep you in the loop.

RBB