The New York Times recently reported that NY state regulators subpoenaed several investment NY firms involved with seller-financing. The paper suggested that a “revival in seller-financed deals for marketing inexpensive homes to lower-income people” drew the attention of the New York State Department of Financial Services and the investigation is preliminary.
In addition, the NY Times article also noted that the Consumer Protection Financial Bureau (CFPB) recently “began an informal inquiry into seller-financing arrangements” and has assigned two lawyers to “research the seller-financing market and determine whether the terms of some deals violate federal truth-in-lending laws.”
