We have a borrower who wants to purchase some land. There is a mobile home on the land. We are not going to take the mobile home as collaterl. Does RESPA apply?
I know ROR will apply because of a "fixture provision" in our mortgages but just not sure about RESPA.
No, we are not going to take a lien on the primary residence. We are just taking the land. I just wasn't sure since there was a mobile home on the land.
You can forget the fixture provision I referred to earlier. I was confused with another transaction