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#1464972 - 11/05/10 08:01 PM HOEPA and HPML
traveler Offline
100 Club
Joined: May 2010
Posts: 180
Alabama
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.
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The opinions expressed are mine and they are not to be taken as legal advice.

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