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Dodd-Frank Rules' Impact on Seller Financing

SAN FRANCISCO-Local experts from Manatt, Phelps & Phillips LLP say in this EXCLUSIVE commentary that the new rules present a number of compliance challenges to credit providers.

By Michael C. Polentz and Grace Yang, Manatt, Phelps & Phillips LLP | Updated on January 31, 2014

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SAN FRANCISCO-In 2014, new rules implementing amendments to the Federal Truth in Lending Act became effective as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”).  These much anticipated rules have sparked lively discussion among investors, lenders and private sellers alike on the potential impact on their seller financing practices in connection with multi-family and single family assets.  This article addresses two of the more substantive provisions in the Dodd-Frank Act concerning the use of seller financing: (1) the “ability-to-repay” and (2) “loan originator” compensation requirements.

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