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#2068117 - 03/08/16 08:48 PM Bridge Loan
BeachGirl Offline
100 Club
Joined: Sep 2001
Posts: 206
Myrtle Beach, SC
Scenario = bridge loan (90 day term) 2nd lien on investment 1-4 family property. Proceeds are to make down payment on the purchase of the borrower's daughter's primary residence. Bridge loan to be paid with borrower's income. We are also making the purchase loan to the borrower and the daughter. The father will not be on the deed. Does TRID apply to the bridge loan?
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Thanks for all of your help!

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TRID - TILA/RESPA Integrated Disclosures Rule
#2068121 - 03/08/16 09:11 PM Re: Bridge Loan BeachGirl
fmissle Offline
Platinum Poster
Joined: Jul 2007
Posts: 989
Pac NW
Consumer Purpose
Closed End
Dirt
=
Yes, TRID applies

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#2068135 - 03/08/16 09:58 PM Re: Bridge Loan BeachGirl
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,641
Cape Cod
The nature of the real estate is irrelevant. The term is irrelevant. The only variables that matter are those concisely listed by fmissle. ^^^
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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