Mississippi recently amended the owner financing exemption to its mortgage loan originator (MLO) licensing requirements to clarify what effect a violation of the provision would have on a purchaser's/borrower's title. Under existing law, anyone who owner finances no more than the greater of 10 residential mortgage loans or 20 percent of their total residential units sold is exempt from MLO licensing requirements. The amendment provides that, should a person exceed this threshold without a license, there will be no effect on the title or obligations of the purchaser/borrower. This amendment is effective July 1, 2013.