Our licensed mortgage company provides the compliance to verify and document the eight requirements of the Dodd-Frank act to verify the buyer's ability to repay.
This ensures the buyer can afford to make the mortgage payments and is less likely to default.
Each buyer is fully vetted:
This legislation came about as a result of the real estate crash a decade ago. The act requires all lenders (including sellers) to verify the borrower’s ability to repay their loan. The burden is now on the seller to prove the borrower can repay instead of the historic process the borrower proving to the lender that they are a good risk and can afford to make the payments.
The act requires a seller to use a licensed mortgage company to verify the buyer's ability to repay.
Arizona Seller Financing, LLC DBA ASF Mortgage is a fully licensed mortgage company in Arizona. License # MB0947832. ASF Mortgage provides compliance services for our seller financing program. The modest fee charged can be paid by buyer, seller or split between the two.
The owner of Arizona Seller Financing has been involved with seller financing since the early 1990s. The entire staff has been hired and trained on seller financing. We know seller financing better than anyone in the valley.
Our preferred title company has over 40 years’ experience closing seller financing transactions.