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#1430035 - 08/17/10 03:33 PM Need to escrow?
Ski Offline
Platinum Poster
Joined: May 2003
Posts: 639
South Louisiana
Applicant requesting a loan secured by 25+ contiguous acres of farm land, purpose is to move primary residence house (NOT manufactured) on to this property.

Exempt from RESPA due to 25+ contiguous acres.

HPML due to being secured by primary residence & rate.

Does being exempt from RESPA also exempt from the need to escrow because of HPML?

Any assistance is appreciated.

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Lending Compliance
#1430042 - 08/17/10 03:39 PM Re: Need to escrow? Ski
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
No, the requirements of 226.35 are not dependent on the loan being subject to RESPA.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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