Dan - thanks for the note to look at 1003.3(3). In looking it over is it correct to state that bridge loans now need to be reviewed to examine whether the specifics of each loan meet the exception criteria?
Would it also be correct to state that a construction only loan or LOC is considered temporary financing if the loan or line of credit is extended to a person exclusively to construct a dwelling for sale? Or would these types of financing also need to be examined individually to determine if they meet the exemption criteria?
"100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu