Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums Lending Compliance Temporary Loan with Title Transfer
Thread Options
#2001667 - 03/13/15 08:25 PM Temporary Loan with Title Transfer
moola741 Offline
Member
Joined: Dec 2003
Posts: 86
We have a customer who is getting a temporary loan with a title transfer with end financing on the secondary market.
Are we required to do RESPA on the temporary loan because of the title transfer?

Return to Top
Lending Compliance
#2001698 - 03/13/15 09:27 PM Re: Temporary Loan with Title Transfer moola741
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,763
Central City, NE
Yes. Read 1024.5(b) very carefully.
Last edited by David Dickinson; 03/13/15 09:28 PM.
_________________________
David Dickinson
http://www.bankerscompliance.com

Return to Top
#2001699 - 03/13/15 09:29 PM Re: Temporary Loan with Title Transfer moola741
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,533
Bloomington, IN
Assuming this is not a construction loan the loan would be exempt as temporary financing.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top

Moderator:  Andy_Z