Wrapping to owner-occupants at three a year, where does the originator licensing line sit

The count is measured on the seller as the extender of credit, not on the property, and stacking LLCs to reset it is the first thing an examiner looks for. The federal seller-financing exclusions turn on how many properties you finance in a twelve month period, whether you built the home, whether the note is fixed or adjustable, and whether you assessed the buyer's ability to repay. They also constrain balloons on the smaller exclusion. Your state can and often does impose its own licensing trigger with a different count or none at all, and roughly a dozen states treat residential seller financing more strictly than the federal floor. Get the exact exclusion language and the state overlay confirmed in writing by a licensed attorney in your state before you paper anything. That is not a question this room can close for you.

On economics, using a contract RMLO to underwrite and disclose is common and it does not break a 380k note. Per-file pricing typically lands in the several hundred to low four figures range, which against a spread of roughly 890 a month is a small number. Ask for the fee in writing and ask who holds the compliance file if you are audited.

The thing that will actually bite you in year three is escrow. Your underlying payment is 1,640 plus escrow, and escrow moves. A tax reassessment after the sale plus an insurance renewal can add 200 to 400 a month to what you owe the underlying servicer while your wrap payment sits fixed at 2,528 for thirty years. Either build a tax and insurance escrow into the wrap note that adjusts annually, or write in a pass-through of underlying escrow increases. Wraps that were structured with a fixed all-in payment against a moving underlying escrow are how sellers end up funding the difference out of pocket.