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#627034 - 10/20/06 12:48 PM ROR Question
ACBbank Power Poster Joined: Jul 2006 Posts: 4,350 New York City	We are doing a HELOC for a Trust. We are planning on having the Trustee sign the ROR, but do the guarantors need to sign an ROR as well? _________________________ "100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu
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Lending Compliance

#627035 - 10/20/06 12:54 PM Re: ROR Question
Dan Persfull 10K Club Joined: Aug 2002 Posts: 47,533 Bloomington, IN	A loan to a trust, other than a bona fide land trust, is not subject to the provisions of Reg. Z. A trust is not a natural person. _________________________ The opinions expressed are mine and they are not to be taken as legal advice.
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#627036 - 10/20/06 01:07 PM Re: ROR Question
ACBbank Power Poster Joined: Jul 2006 Posts: 4,350 New York City	So no ROR is required at all? _________________________ "100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu
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#627037 - 10/20/06 01:21 PM Re: ROR Question
Dan Persfull 10K Club Joined: Aug 2002 Posts: 47,533 Bloomington, IN	If the transaction is exempt from a specific reg then it is exempt from all of its provisions. _________________________ The opinions expressed are mine and they are not to be taken as legal advice.
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#627038 - 10/20/06 01:27 PM Re: ROR Question
ACBbank Power Poster Joined: Jul 2006 Posts: 4,350 New York City	Thanks Dan. I dont usually handles the HELOCs and just wanted to be sure. _________________________ "100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu
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