Reg. Z is purpose driven......so if the loan is secured by a 2nd or vacation home and the purpose of the funds is consumer purpose, then yes, they are subject to Reg. Z.
A loan to purchase a 2nd or vacation home is most definitely subject to Reg. Z. A loan to a rancher to purchase cattle secured by his vacation home would not be subject to Reg. Z.
You have to look to the purpose of the funds.
_________________________
I'm fixin' to fix that.