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#2066779 - 03/01/16 03:48 PM Covered?
Ninky Offline
Gold Star
Joined: Nov 2002
Posts: 357
Borrower is purchasing 1-4 for primary residence, secured through a cash-out of commercial building. Not covered by RESPA, right? But TRID applies to closed-end consumer credit secured by real property. So, no RESPA but yes TRID? Disclosed as a Home Equity on the LE?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2066793 - 03/01/16 04:10 PM Re: Covered? Ninky
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 79,923
Galveston, TX
Sounds correct.
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#2066826 - 03/01/16 05:03 PM Re: Covered? Ninky
Darth HMDA, CRCM, CAMS Offline
Diamond Poster
Joined: Dec 2013
Posts: 1,387
yikes... not a fan of Commercial lenders making loans to obtain consumer dwellings... gets messy..
The opinions expressed are mine, do not represent the opinions of my employer, and they are not to be taken as legal advice.

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