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#1464972 - 11/05/10 08:01 PM HOEPA and HPML
traveler Offline
100 Club
Joined: May 2010
Posts: 180
If we have a loan - 12 month - temporary financing - Our loan involves the borrower paying off his mtg at another bank and we advanced more funds to him for renovation. We have a confirmation for perm financing from another lender. Is wither HOEPA or HPML applicable?

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Lending Compliance
#1464974 - 11/05/10 08:03 PM Re: HOEPA and HPML traveler
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,832
Bloomington, IN
Temporary loans are exempt from 226.35 but they are not exempt from 226.32.
The opinions expressed are mine and they are not to be taken as legal advice.

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