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#1073939 - 10/30/08 08:00 PM Personal Line of Credit secured by CD
LoveHMDA Offline
Gold Star
Joined: Nov 2005
Posts: 283
What disclosures are needed for this type of loan? We have a one year term for $100,000.00 revolving LOC for personal use.

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Lending Compliance
#1074355 - 10/31/08 03:05 PM Re: Personal Line of Credit secured by CD LoveHMDA
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
You need what is described under Reg Z for open-end credit.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#1074438 - 10/31/08 03:52 PM Re: Personal Line of Credit secured by CD RR Joker
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN

Since this loan is not secured by real property and is > $25,000 it is not subject to Reg. Z.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1074440 - 10/31/08 03:53 PM Re: Personal Line of Credit secured by CD Dan Persfull
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
duh, Dan! TGIF, my brain is not charged. Blame it on the dark of the moon?
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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