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Federal Consumer Credit Score Disclosures
Dan Persfull, BOL Guru
Guru Bios
Question: Does the Federal Consumer Credit Score Disclosure apply only to homestead or to all consumer real estate loans secured by 1-4 family dwellings?
Answer: If the loan is for a consumer purpose that is initiated by a consumer and is to be secured by a 1-4 residential real property then disclosure applies. There is no requirement that it be the primary residence.
First published on BankersOnline.com 8/07/06
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