Thread Options
#350340 - 04/22/05 04:08 PM CD open-end
beegee Offline
Diamond Poster
Joined: Feb 2004
Posts: 1,092
We are wanting to start a new personal loan product: an open ended variable rate loan secured by a CD. What disclosures are entailed? Is is similar to a HECL?

Return to Top
Lending Compliance
#350341 - 04/22/05 05:47 PM Re: CD open-end
Cowboys Fan Offline
Power Poster
Joined: Dec 2002
Posts: 4,598
The definition of open-ended credit in Reg Z isn't limited to real estate secured lines. If you go to Subpart B it will walk you through the required disclosures, including the periodic statements.

Return to Top

Moderator:  Andy_Z