Just learned that we will be partcipating out a couple of consumer mortgage loans. Orginally I thought we might need to send RESPA's notice of transfer, but after I found we will still be accepting payments here, I decided that was not applicable. Are there any notices that we should send to the consumer? Or since the participation is actually between banks, could it be possible notificaiton is not required?
The opinions expressed are mine and do not necessarily reflect those of my employer.