Thread Options
#2262994 - 11/30/21 05:16 PM Construction Loan - Negative Information Notice
Cloud9 Offline
100 Club
Joined: Jul 2008
Posts: 205
Is there any reason why we wouldn't be required to provide the Negative Information Notice on a delinquent consumer construction loan? Also, I never see it specifically excluded, but I'm assuming the Homeownership Counseling Notice doesn't apply to construction loans. Is that correct? Thank you.

Return to Top
#2262998 - 11/30/21 05:45 PM Re: Construction Loan - Negative Information Notice Cloud9
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 78,946
Galveston, TX
A Negative Information Notice would be required if you are reporting construction loans to a credit bureau. As far as the Homeownership Counseling Notice, there is no construction loan exemption if the loan otherwise qualifies for delivery of the notice.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top