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#185868 - 04/30/04 09:08 PM disclosures needed????
sue's mom Offline
Gold Star
sue's mom
Joined: Feb 2003
Posts: 455
IL
I have a commercial customer who wants to borrow $400,000 secured by his commercial building. This will be a line of credit. He wants to use the funds to build his personal residence. Reg. Z consumer disclosures for open end credit apply to this?

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Lending Compliance
#185869 - 04/30/04 09:18 PM Re: disclosures needed????
GreatBlue Offline
Diamond Poster
GreatBlue
Joined: Feb 2003
Posts: 2,362
Colorado
Yes, but not the HELOC disclosures.
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#185870 - 04/30/04 09:18 PM Re: disclosures needed????
Anonymous
Unregistered

Are they appling as indivuals or as a corporation. First requirement of Reg Z is borrower has to be a live person

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