When we have an End Loan (new construction of a primary residence) that involves cash back to the customer because the project came in under budget (so the cash back won't be used for any construction-related expenses), are we required to give the right of rescission? I know that based on the previous law, it wouldn't be (see https://www.bankersonline.com/qa/right-rescission-construction-loan-plus-additional-funds
). However, the law is a bit different now, so has the answer changed? My gut tells me that the transaction is exempt as it's a residential mortgage transaction, and the fact that there is cash back is irrelevant. However, the commentary is a bit confusing. Does anyone have any clarification?