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#2171503 - 04/03/18 03:04 PM NMLS number required on Commercial Loan
t0dd Offline
100 Club
Joined: Sep 2004
Posts: 229
Is the NMLS number required on a commercial loan in which residential real estate is the collateral? The real estate is investment property and not primary real estate and the loan is to a LLC. Any feedback is appreciated.

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S.A.F.E. Act Forum
#2171505 - 04/03/18 03:16 PM Re: NMLS number required on Commercial Loan t0dd
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,396
Galveston, TX
On what? The note and security agreement - no, the loan is not subject to Regulation Z.
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#2171976 - 04/04/18 10:02 PM Re: NMLS number required on Commercial Loan t0dd
t0dd Offline
100 Club
Joined: Sep 2004
Posts: 229
Specifically the Loan Application.

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#2171977 - 04/04/18 10:06 PM Re: NMLS number required on Commercial Loan t0dd
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,396
Galveston, TX
Neither Regulation Z or the Safe Act covers loans to an LLC. Only Regulation Z addresses the NMLS number on the application.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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