Skip to content
Thread Options
#2253678 - 05/07/21 09:16 PM Regulation Z apply?
Dodge Offline
100 Club
Joined: Mar 2010
Posts: 241
Customer has applied for loan to build his primary residence. However, the loan will be in his name but also his business name. Does that exempt the transaction from Regulation Z since one of the borrowers is not a natural person?

Return to Top
Lending Compliance
#2253688 - 05/08/21 01:47 PM Re: Regulation Z apply? Dodge
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 79,651
Galveston, TX
Not sure why a bank would allow someone to structure a loan like this, but I would not exempt the loan and I would disclose to the consumer. I hope the customer's legal counsel and accountant is on board.
The opinions expressed here should not be construed to be those of my employer:

Return to Top

Moderator:  Andy_Z