Amended Reg Z - Second Home Loans & Refinances
Answer by David Dickinson, BOL Gurus Guru Bio
Question:
Under the amended Reg. Z, Sec 226.35, higher-priced loans are those secured by a consumer's principal dwelling. Are second home loan purchases or refinances covered as well?
Answer:
Reg. Z §226.35 applies to all consumer mortgage loans secured by the consumer's principal dwelling. Loans secured by second homes would not apply.
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