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#451600 - 11/02/05 10:09 PM ABC R/E on Consumer Note
HRH Okie Banker Offline
Power Poster
Joined: Jan 2003
Posts: 3,070
Oklahoma
Need Help! Loan for $60,000 ($50,000 consumer & $10,000 non-consumer purpose) with Ag R/E as abundance of caution. I don't find anything in Reg Z that cares if the real estate is ABC or not. Am I right in thinking this loan would need Reg Z disclosures?
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Lending Compliance
#451601 - 11/02/05 10:11 PM Re: ABC R/E on Consumer Note
GreatBlue Offline
Diamond Poster
GreatBlue
Joined: Feb 2003
Posts: 2,362
Colorado
You're right. ABC is meaningless as far as Reg. Z goes.
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#451602 - 11/02/05 10:14 PM Re: ABC R/E on Consumer Note
HRH Okie Banker Offline
Power Poster
Joined: Jan 2003
Posts: 3,070
Oklahoma
Thanks very much for the quick reply. It helped alot.
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Just working here until I get my letter from Hogwarts.

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#451603 - 11/03/05 01:34 AM Re: ABC R/E on Consumer Note
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
Quote:

You're right. ABC is meaningless as far as Reg. Z goes.



ABC is meaningless as far as any consumer regulation is concerned. RESPA, Reg. Z, Reg. B, Flood, Reg. C, etc.
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The opinions expressed are mine and they are not to be taken as legal advice.

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