CALL TO ACTION
Currently, under Federal legislation – Dodd-Frank, if you do more than 3 owner financed transaction in a 12-month window, YOU are required to have an Residential Mortgage Loan Originators (RMLO) license. The SellerFinanceCoalition.org(SFC) and the Texas Land Developer’s Association (TDLA) are working hard to raise that minimum to 24 per year (2 Per Month).
A Congressman in New Mexico has proposed to move the minimum from 3 to only 5. Texans are some of the greatest creators of owner financed notes and our bill HR 1360 is asking for the minimum to be raised to 24 per year. Congressman Hensarling needs to hear from Texans to consider amending his position.
We have a window of opportunity to move our cause further down the line, and this is where the Texas100 comes into play…
It is imperative that we SIGN and EMAIL the letter below by Friday, Sept. 14, 2018…
STEP #1: Print out the letter
STEP #2: Fill in your personal information and Sign the Letter
STEP #3: Take a Picture of the completed and signed letter
STEP #4: Email the Picture of the letter…
SUBJECT: Hensarling Letter
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