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.