We are making a loan secured by land on which a mobile home park is located. Proceeds to be used for business purposes. The borrower's mobile home is also located on the land. The loan is secured by the land only. There is no security interest on the borrower's mobile home.

The question - Is notice of right of rescission necessary? My opinion it is not. However a Sr. Lending Officer tends to think we should give notice since we could foreclose on the land and could bar entrance and egress to the property we should give the notice. My feeling is that still the notice is not necessary, but it he feels better in giving it, then there is no harm.

Doesn't seem to apply. Even if you do bar entrance. Eventually, these people would have to be allowed to get to their homes. The loan is a business loan and not secured by the borrower's principal dwelling..... I think you are correct.

Business purpose loans are not subject to the RofR no matter what the circumstances.