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#923469 - 03/14/08 08:30 PM refi of residential mortgage transaction
ToTo Offline
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Joined: Apr 2004
Posts: 595
OZ
Is a refinancing of a residential mortgage transaction, by the SAME Creditor, with no new money, subject to the right of rescission?

Thanks for comments.

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Lending Compliance
#923513 - 03/14/08 08:52 PM Re: refi of residential mortgage transaction ToTo
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
If it's a closed-end loan, read ยง226.23(f)(2).
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David Dickinson
http://www.bankerscompliance.com

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#923613 - 03/14/08 10:16 PM Re: refi of residential mortgage transaction David Dickinson
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Posts: 595
OZ
Thank you David. That's what I thought, but I also thought there could be a special rule since the original loan was a RMT with no rescission. I couldn't find anything, but wanted to be sure.

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