Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums Lending Compliance Cross collateralizing
Thread Options
#384475 - 07/12/05 06:49 PM Cross collateralizing
LoisLane Offline
Diamond Poster
LoisLane
Joined: Oct 2001
Posts: 1,570
Wisteria Lane..
If you make a consumer 90 day loan and cross-collateralize it with a long term first-mortgage, what documents would be required? Good Faith and other consumer docs? Rescission?
_________________________
And where is Superman when I need him?

Return to Top
Lending Compliance
#384476 - 07/12/05 06:55 PM Re: Cross collateralizing
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,180
Toano, VA
Sounds like ROR for sure.
_________________________
...gone fishing.

Return to Top
#384477 - 07/12/05 07:08 PM Re: Cross collateralizing
GreatBlue Offline
Diamond Poster
GreatBlue
Joined: Feb 2003
Posts: 2,362
Colorado
RESPA may not apply if it is temporary financing. You also trigger flood.
_________________________
Opinions are mine and not necessarily my employer's.

Return to Top

Moderator:  Andy_Z