We are a licensed RMLO specializing in professional, compliant origination of owner finance notes.
Lone Star Origination works with investors like you.
How can an RMLO help your owner finance business?
RMLO services support investors and owner finance buyers, ensuring compliance with state and federal regulations. Services include: taking the loan application, verifying the buyer's ability to repay, and distributing the mandatory loan disclosures to your buyer. We support investors and owner finance buyers and want to help you close quickly and efficiently.
Your professional loan package includes:
Qualified Mortgage Report
Current Dodd-Frank regulations offer certain protections to lenders who create loans that are considered qualified mortgages. Let our company determine your loan's standing and offer advice to adjust your loan if necessary to be covered with optimal protections.
Smart lenders don't skip credit checks. Avoid potential risks by having your buyers credit examined to determine creditworthiness and risk to the life of your note. A mature note is more valuable and more marketable.
Proof of Income
Investors are required by the Dodd-Frank Act to determine a buyers ability to repay a loan based on industry standard guidelines. Let our company track down W-2s, bank statements, and other income verification to keep you in compliance with the law.
Required Loan Disclosures
Federal and state regulations require specific loan disclosures delivered to your buyer within strict time frames. These disclosures are vital to compliance with regulations and must be included. Let us keep track of the disclosures for you.
Supporting Underwriting Documentation
Receive documentation of the loan terms, fully amortized loan schedule, and important loan information in a professional and organized package for you to hold in your note portfolio.
An important final piece, an accurate closing disclosure means a quick closing with all the small details put together in one neat and organized document. We promise to close quickly with accurate CDs and no unnecessary hang ups.
Contact us today and let us help with your next project.
As investors ourselves, we understand your needs and are here to make your business even better.
Our cofounder, Tom Berry, has been investing in Houston real estate for many years. Also a cofounder of Investor Loan Source, Tom understands the regulatory environment for local investors and the hang-ups that devalue notes investors create. In addition to continuing to increase his rental portfolio, Tom manages Edgewater Realty, a full-service brokerage located in La Marque; and Galco Properties, a Real Estate Wholesaling company. With his expertise in the Real Estate Investing market, Tom is dedicated to bringing the tools, services, and resources needed to this under-served market.
Need more resources for your real estate investment business? Check out our affiliated companies for a one-stop shop for all your real estate needs:
Investor Loan Source was created by investors, for investors. It is one of the fasted growing sources of private money for real estate investors. ILS offers unique loan options based on the strength of the deal, not the credit of the borrower, note purchases, and non-recourse loans through your IRA. Let's start talking about your project at www.ILS.cash.
Need someone else to handle the headaches of maintaining a rental portfolio? Make Edgewater Property Solutions (www.edgewaterps.net) part of your team, we offer personalized evaluations to streamline your business plan. Offer a personal touch and attention to detail that maximizes cash flow.
Off market deals are here! Looking for another source of wholesale deals in the greater-Houston area? Get on the buyer's list for Galco Properties at www.galcoproperties.com. Galco also purchases properties so if you've got a deal you've been sitting on - send it our way!
Our short term fund was developed using a unique system that provides our managers the opportunity to take advantage of the changing market cycles. Our goal is to obtain the best assets available, yielding the highest return at the lowest risk. This could include houses, apartments, commercial real estate assets, or real estate notes. For more information visit us at https://ils.cash/private-equity-fund/
Meet Our Licensed RMLO!
Leighanna Lucas is a licensed RMLO (NMLS ID 1781251) and cofounder of Lone Star Origination. Investor friendly and personable, Leighanna is here to assist with all your owner finance questions and to help you understand how to create owner finance notes that are not only marketable assets, but also compliant with federal and state regulations.
Figure: 7 TAC §80.200(b)
"CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV."
Lone Star Origination LLC: NMLS ID: 1797735
Does your real estate investment business rely on owner finance as a strategy? In the years post-Dodd-Frank, regulatory changes have been ongoing, and with them the way investors do seller finance is significantly changed. To bridge the gap between investors, borrowers, and regulations, using an RMLO is the only option for originating owner finance loans. … Read more
Successful real estate investors know that it takes many strategies to build a thriving real estate business. Investment properties require you to decide the best exit strategy, and there are many great options out there depending on the needs of your business. Owner finance is one of the many excellent strategies you should depend on … Read more
Contact us now!
Let us help you originate professional notes for your next seller finance project. Get in touch with us today!