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#2231298 - 02/19/20 06:17 PM Home Loan Toolkit and 2nd Home
mdog76 Offline
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Joined: Jan 2007
Posts: 645
Is the booklet required on a 2nd home?

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Lending Compliance
#2231301 - 02/19/20 06:27 PM Re: Home Loan Toolkit and 2nd Home mdog76
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,893
Galveston, TX
Yes - If it is a purchase


(1) Creditor to provide special information booklet. Except as provided in paragraphs (g)(1)(ii) and (iii) of this section, the creditor shall provide a copy of the special information booklet (required pursuant to section 5 of the Real Estate Settlement Procedures Act (12 U.S.C. 2604) to help consumers applying for federally related mortgage loans understand the nature and cost of real estate settlement services) to a consumer who applies for a consumer credit transaction secured by real property or a cooperative unit.
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