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#1817412 - 05/24/13 04:35 PM Refinancing Bridge Loan
Red Raiders Offline
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Red Raiders
Joined: May 2013
Posts: 1,069
Compliance Land
If we have a six month interest only bridge loan that at maturity the house still isn't sold so we refinance the loan (with a new note) for another six months interest only, doesn't this second loan still count as a bridge loan and therefore exempt from RESPA and HMDA?
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#1817413 - 05/24/13 04:39 PM Re: Refinancing Bridge Loan Red Raiders
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
doesn't this second loan still count as a bridge loan and therefore exempt from RESPA and HMDA?

Correct.
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#1817418 - 05/24/13 04:43 PM Re: Refinancing Bridge Loan Red Raiders
Red Raiders Offline
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Compliance Land
Thanks for the response, Dan!
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