States That Exempt or Partially Exempt Seller Installment Sales From Licensing

Number of seller installment sales on residential property that someone can do per 12 month period before being required to have a mortgage loan originator license:

Alaska –         Unlimited 06.60 – 3 AAC 14 Article 11. Sec. 06.60.990(19)(C)(i)

Arizona –        Unlimited Sec. 4 Section 6-991.01(6)

Arkansas –      Unlimited Sec 23-39-502(9)1(B) (x) A

Colorado –      Unlimited Sec. 1 Part 9 Article 61 of Title 12-61-904(b)

Florida –         Unlimited Sec. 4 494.00115(2)(f)

Georgia –        5 or less Title 1 Chapter 7 Article 13 Sec. 1001(A)(16)

Idaho –            Unlimited Title 26 Chapter 31 Sec. 202(2)

Illinois –           2 or less Chapter 17 Sec 1-4(d)(2)

Missouri –       Unlimited Title 29 Chapter 443.803.1(8)(j)

Montana –      Unlimited 32-9-104(1)(e)

New Mexico – Unlimited Chapter 58 Article 21B Sec 4B(3)

South Carolina – 5 or less Title 37 Chapter 22 Sec. 2 (18)(f)

Tennessee – 5 or less

Texas – 5 or less

Information from Ric Thom www.securityescrow.com

Listen to his teleconference here:  https://papersourceonline.com/2786/red-alert-seller-mortgages-may-be-outlawed-you-must-act-now/