Key Takeaways
- Dodd-Frank ATR applies to owner-occupied seller financing.
- Investor-to-investor generally exempt from Dodd-Frank.
- 3-property exemption: exempt from licensing but ATR still applies.
- State usury and disclosure laws add additional compliance layers.
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Test Your Knowledge
1.What does Dodd-Frank's 3-property exemption provide?
2.Are investor-to-investor seller financing transactions subject to Dodd-Frank?
3.What is the maximum penalty per day for CFPB enforcement of Dodd-Frank violations?