Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums Lending Compliance RESPA loan disclosures to a Business entity?
Thread Options
#1688264 - 04/12/12 03:37 PM RESPA loan disclosures to a Business entity?
Pickles Offline
Gold Star
Joined: Apr 2006
Posts: 275
Beach Bum, East Coast, USA
We have a personal purpose loan; proceeds will be used to improve a 1-4 family vacation home used for the partners. The loan will be made to the Partnership so it is not subject to Reg. Z but will be subject to RESPA rules. Should we provide all required RESPA disclosures plus a GFE & HUD1 to the Business entity (the Partnership) without providing a Reg. Z TIL?
_________________________
Living life in the fast lane, hitting bumps along the way, but enjoying the ride!!!!

Return to Top
Lending Compliance
#1688278 - 04/12/12 03:50 PM Re: RESPA loan disclosures to a Business entity? Pickles
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,656
The Swamp
Seems dumb, but that's the way I interpret RESPA.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

Return to Top
#1688286 - 04/12/12 03:55 PM Re: RESPA loan disclosures to a Business entity? Pickles
Pickles Offline
Gold Star
Joined: Apr 2006
Posts: 275
Beach Bum, East Coast, USA
Seems dumb to me also, but that's how I read it too .. thanks
_________________________
Living life in the fast lane, hitting bumps along the way, but enjoying the ride!!!!

Return to Top

Moderator:  Andy_Z