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BankersOnline.com Forums Dodd-Frank Final Rules Discussions Mortgage Servicing Rules Successors-in-Interest - Temporary Financing
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#2167547 - 03/09/18 11:01 PM Successors-in-Interest - Temporary Financing
Tarhe Offline
Diamond Poster
Joined: Nov 2006
Posts: 1,407
California
Is temporary financing (construction and bridge loans) covered by the requirements of the Successors-in-Interest rule?

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Mortgage Servicing Rules
#2167551 - 03/09/18 11:13 PM Re: Successors-in-Interest - Temporary Financing Tarhe
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,363
Galveston, TX
Temporary financing is excluded.

1026.31 Mortgage loan means any federally related mortgage loan, as that term is defined in § 1024.2 subject to the exemptions in § 1024.5(b), but does not include open-end lines of credit (home equity plans).
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#2167553 - 03/10/18 12:00 AM Re: Successors-in-Interest - Temporary Financing Tarhe
Tarhe Offline
Diamond Poster
Joined: Nov 2006
Posts: 1,407
California
Thank you for the references!

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