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#2116834 - 02/02/17 09:22 PM Other Considerations "Appraisal"
iheartcompliance Offline
100 Club
Joined: Jan 2016
Posts: 239
We have a Home Equity loan that is secured by bare land owned free and clear, with the purpose to construct a home on a different piece of property.

Should we include the disclosure on page three of the Loan Estimate under "Other Considerations"?

The disclosure required by § 1026.37(m)(1) is only applicable to transactions subject to § 1026.19(e) that are also subject either to 15 U.S.C. 1639h or 1691(e) or both, as implemented by this part or Regulation B, 12 CFR part 1002, respectively.
 Accordingly, if a transaction is not also subject to either or both of these provisions, as implemented by this part or Regulation B, respectively, the disclosure required by § 1026.37(m)(1) may be omitted from the Loan Estimate as described by comment 37-1 as illustrated by form H-24 of appendix H to this part.

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TRID - TILA/RESPA Integrated Disclosures Rule
#2116855 - 02/02/17 10:05 PM Re: Other Considerations "Appraisal" iheartcompliance
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
No. Your loan is not secured by a dwelling.

1002.14—Rules on providing appraisals and other valuations.

(a) Providing appraisals and other valuations. (1) In general. A creditor shall provide an applicant a copy of all appraisals and other written valuations developed in connection with an application for credit that is to be secured by a first lien on a dwelling.
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