- Scott Horne
- 214-649-6080
- Scott@HorneRealEstatelaw.com
Hello! Welcome to the Owner Finance Network RMLO processing page.
To ensure a smooth transaction please read the RMLO Do's and Dont's and FAQ's.
The RMLO processes was developed to help the seller determine the buyers ATR (ability to repay). This came about after SB 43 was put into place Jan 2022.
Senate Bill 43 adds protections for “wrap mortgage loans,” one of which is that it must be closed by an attorney or title insurance company.
To ensure a smooth transaction please read the RMLO Do's and Dont's and FAQ's.
The RMLO processes was developed to help the seller determine the buyers ATR (ability to repay). This came about after SB 43 was put into place Jan 2022.
Senate Bill 43 adds protections for “wrap mortgage loans,” one of which is that it must be closed by an attorney or title insurance company.
Please keep in mind that there are certain waiting periods that a Lender must meet to ensure they are satisfying the lending guidelines.
There is a mandatory 7-day waiting period from delivery of the initial loan disclosures before a loan can be consummated/closed. Borrower(s) must receive a Closing Disclosure 3-days before closing. Sundays and legal public holidays are not considered in the count. Please consider the mandatory time frames when setting an estimated close date. IN SOME STATES, THE UNDERLYING LIEN DISCLOSURES ARE REQUIRES PER PROPERTY CODE 5.016.
- 7 Day waiting period for the Underlying Lien Disclosures 5.016 Form
- 3 Day waiting period for the final CD.
- OFN Processing Services, LLC
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Call us|972-840-0660NMLS|18193001795 Northwest Hwy Garland GARLAND TX 75041