Answer:
No. If you are only conducting the temporary financing portion, you need not provide any RESPA documents, a Preliminary TIL and HMDA.
First published on BankersOnline.com 10/14/02
Construction Loan Disclosures
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Question:
On a construction loan that you may have a committment letter from another mortgage officer at your bank, but the permanent loan will be closed outside your bank and the loan will be held on the secondary market would you need to have the same disclosures as if your instition was going to do the permanent loan?
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