Just wanted to be sure i have this right, when referencing "personal Property" and loans under $50,000, are they talking about a mobile home in a park?

(B) 8.5 percentage points for a first-lien transaction if the dwelling is personal property and the loan amount is less than $50,000; or

The mobile home would not have to be in a park. It could be on land that they also own.

Thanks Randy...sorry to ask but where is personal property defined?

In State law. From the preamble:

First, the Bureau understands that manufactured homes may be titled either as personal property (in which case the consumer receives a personal property, or chattel, loan) or as real property (in which case the consumer receives a mortgage). Whether a manufactured home is titled as personal or real property does not perfectly correlate to whether the consumer owns the land on which the home is situated. Indeed, according to 2011 U.S. Census data, even though a majority (77 percent) of new manufactured homes placed during 2011 were titled as personal property, only 26 percent were placed inside manufactured home (i.e., land-lease) communities, with the balance being placed on owned land.63 Instead, as noted by consumer group commenters, the laws in most States provide an option for titling the manufactured home either as personal or real property.

Could you give me the cite in the Reg, where the 8.5 for personnel property is. We have a few mobile home only loans, and quite a few mobile home and land loans. On almost all loans the mobile homes are titled property.

Hallie, is this what you're looking for: 1026.32(a)(1)(i)(B)

Effective January 10, 2014, paragraph (a) is revised to read:

(a) Coverage. (1) The requirements of this section apply to a high-cost mortgage, which is any consumer credit transaction that is secured by the consumer's principal dwelling, other than as provided in paragraph (a)(2) of this section, and in which:

(i) The annual percentage rate applicable to the transaction, as determined in accordance with paragraph (a)(3) of this section, will exceed the average prime offer rate, as defined in § 1026.35(a)(2), for a comparable transaction by more than:

(A) 6.5 percentage points for a first-lien transaction, other than as described in paragraph (a)(1)(i)(B) of this section;

(B) 8.5 percentage points for a first-lien transaction if the dwelling is personal property and the loan amount is less than $50,000; or

(C) 8.5 percentage points for a subordinate-lien transaction

That is it. Thank You