(August 10, 2011- Austin, Texas) Phill Grove, the REI Maverick, and real estate attorney Mark Torok will address the Dodd Frank Act regarding the owner financing laws and how this ruling affects real estate professionals this Wednesday, August 10, 2011 at 7pm CST via webinar. The SAFE Act, Truth in Lending Acts, MARS rules, and now the Dodd-Frank Act / Federal Reserve owner financing regulations are examples of recently passed legislation all of which are designed to regulate the mortgage industry but also have rules involved that affect owner financing. The big question is how does the Dodd-Frank Act affect owner financing?
Dodd Frank Act and Owner Financing
“Whenever I have a question about real estate law, I always seek advice from an expert,” states Phill Grove, real estate investor and creator of the Assignment of Mortgage Payments System. “Mark Torok of Torok Law is an expert in all things real estate related, including lease options, contract for deed, the S.A.F.E Act, the MARS Act, Assignment of Mortgage Payments System, and the myths and truths about other gurus’ programs. Mark Torok will be sharing his knowledge of real estate law on this upcoming webinar.”
Some of the information that both Phill Grove and Mark Torok will be covering include:
- How the SAFE ACT, Truth In Lending Laws, MARS Regulations, and the Dodd-Frank Act will affect owner financing
- How to perform an owner financing transaction safely, legally, and ethically
- Q&A Session
“The Dodd-Frank Act / Federal Reserve owner financing regulations is about 117 pages long of very small print, and is very dense,” says real estate attorney Mark Torok. “But if you read the legislation the way we have and have the training to understand these guidelines that we have, then you will see that there are some very good ways to comply with these regulations that we’ve already figured out.”
The webinar on August 10 at 7pm CST will last about 1 hour and will include a question and answer session.
About Mark Torok:
Mark T. Torok has had a varied and extensive legal career of almost 30 years, including stints as an administrative law judge in Oregon and Pennsylvania, representing a national insurance trade association for legislative and regulatory affairs for 6 states, where he was instrumental in the design and passage of major legislation, and as an officer and counsel to three major insurance companies. He oversaw the registration of a $1.6 billion company with the Securities and Exchange Commission and NASDAQ; designed and implemented compliance programs under Sarbanes-Oxley for a $3.4 billion insurer; and was in charge of regulatory compliance and filings for a $137 billion insurer as well as providing substantive review of financial matters and investments. He holds the Certified Property and Casualty Underwriter designation (CPCU) and the Associate in Reinsurance designation (ARe).
Mr. Torok is also the founder of The Torok Law Firm, a firm representing real estate investors for asset protection and real estate matters, as well as representing a number of real estate lenders. He has been involved in real estate for over 30 years and has been instrumental in an estimated $750 million in real estate transactions, either as a primary investor, as an attorney representing a party to the investment, or as a closing agent.
Mark’s real estate expertise is in owner finance and subject to transactions, and in creative ways to get the deal done. He is an active speaker throughout the United States and has presented seminars and boot camps and talks on real estate, asset protection and the laws of Texas, including lease options, contract for deed, the Texas S.A.F.E Act, the MARS Act, and the myths and truths about other gurus’ programs.