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BankersOnline.com Forums Dodd-Frank Final Rules Discussions TRID - TILA/RESPA Integrated Disclosures Rule Home + Additional Collateral (CD, car, etc.)
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#2041654 - 09/30/15 07:53 PM Home + Additional Collateral (CD, car, etc.)
AnotherDayinParadise Offline
100 Club
Joined: Jun 2011
Posts: 103
NE
Scenario: TRID applies to loan. Loan collateral is primary residence plus CD or car. Would the CD or car be listed under "Property" on the LE?

The commentary to 1026.37(a)(6) requires that personal property also taken as collateral be listed, but I do not know if a CD or car would be considered "personal property" or not. I don't see that term defined anywhere.

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TRID - TILA/RESPA Integrated Disclosures Rule
#2041670 - 09/30/15 08:08 PM Re: Home + Additional Collateral (CD, car, etc.) AnotherDayinParadise
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,656
The Swamp
I would say it would be personal property but since my LOS won't support other collateral, I've not paid it any attention.
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