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#25549 - 07/26/02 06:52 PM Borrower notification for Sale of loans
Anonymous
Unregistered

If a bank sells loans, either active or charged off, is there any requirement that the bank notify the borrower of the sale. If so, what Reg would address this?

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Lending Compliance
#25550 - 07/26/02 07:03 PM Re: Borrower notification for Sale of loans
Lestie G Offline

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Joined: May 2002
Posts: 3,608
Near the Land of Enchantment
RESPA requires a goodbye letter if you're selling the servicing rights.
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#25551 - 07/26/02 07:04 PM Re: Borrower notification for Sale of loans
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,752
On the Net
Aside from RESPA applicable loans, none that I know of.
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AndyZ CRCM
My opinions are not necessarily my employers.
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Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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