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#1396392 - 05/26/10 04:26 PM One-year balloon disclosure requirements
Bella Banker Offline
Junior Member
Joined: Mar 2010
Posts: 30
Midwest
Are prelim disclosures required on one-year balloon products?

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Lending Compliance
#1396482 - 05/26/10 05:45 PM Re: One-year balloon disclosure requirements Bella Banker
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,967
Bloomington, IN
Assuming it's a consumer purpose loan, yes. See Reg Z 226.19(a) and its Commentary, and RESPA 3500.5 to see if its subject to RESPA.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1396521 - 05/26/10 06:22 PM Re: One-year balloon disclosure requirements Dan Persfull
Bella Banker Offline
Junior Member
Joined: Mar 2010
Posts: 30
Midwest
Thanks Dan!

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