Can you please verify that a purchase of a mobile home loan with no land is defined as a residential mortgage transaction. This will be the consumer's primary residence. Since it would be a RMT, then you could look at exclusions from the finance charges in Section 1026.4(c)(7).

Verify as in pull out the applicable part of Reg. Z and post it here in support...or verify as in agree with you? I agree with you that buying a home for use as a primary residence, with or without land, is a residential mortgage transaction for rescission, finance charge, etc. purposes.

(24) Residential mortgage transaction means a transaction in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent consensual security interest is created or retained in the consumer's principal dwelling to finance the acquisition or initial construction of that dwelling.

In case you meant the former, there's nothing in the definition that would exclude manufactured homes.

I suppose the definition of "dwelling" would be needed as well, and it offers further support.

(19) Dwelling means a residential structure that contains one to four units, whether or not that structure is attached to real property. The term includes an individual condominium unit, cooperative unit, mobile home, and trailer, if it is used as a residence.

Yes, I was meaning agree with me! Thanks for your help!!