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#2228329 - 01/06/20 09:14 PM RESPA Applicable?
burkemi Offline
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Joined: Nov 2013
Posts: 549
Customer purchased a lot of vacant land (29 acres). He plans to build his primary residence at a later date. All he is using the proceeds of this loan for is to purchase the land only - no further funds from this loan. He intends to refinance this loan into a construction loan when he feels he is ready to begin work on the house. He did not specify a timeframe for this, only stated "at some point."

Is this loan subject to RESPA?
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Lending Compliance
#2228334 - 01/06/20 09:52 PM Re: RESPA Applicable? burkemi
Oursisnottoreasonwhy Offline
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Oursisnottoreasonwhy
Joined: Nov 2004
Posts: 503
Central Illinois
It is subject to TRID.

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#2228354 - 01/07/20 02:32 PM Re: RESPA Applicable? burkemi
burkemi Offline
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Joined: Nov 2013
Posts: 549
Thank you
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