Abundance of Caution gets you NO WHERE, except for that if you can prove it really IS ABC, you do not have to comply with appraisal standards requirements.
so, if it is a disclosable (consumer purpose) loan, you do your normal disclosures. In addition, regardless of purpose FEMA requirments will ALWAYS apply...
The best definition of ABC and it's true qualifications will be found in your call report guidelines.
Last edited by RR joker; 03/18/08 07:30 PM.
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My opinion only. Not legal advice.
Say you'll haunt me - Stone Sour