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#2037761 - 09/09/15 08:01 PM Any LE exemptions?
Everest Offline
Gold Star
Joined: Jan 2012
Posts: 301
Does anyone know if there is any exemption to providing a Loan Estimate disclosure if the loan is a subordinate lien loan provided by an assistance program for low to moderate income? In our case these loans are for down payment assistance to a first lien purchase, repayment is forgiven incrementally or deferred 20 years, the interest rate is 0% and there are minimal closing costs.

Thanks.

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TRID - TILA/RESPA Integrated Disclosures Rule
#2037776 - 09/09/15 08:54 PM Re: Any LE exemptions? Everest
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Possibly. Check out Regulation Z § 1026.3(h) and see if the loan fits the parameters for an exemption. You will still need to do a TILA disclosure, but it won't be an LE or CloD.
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