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Consumer Loan on Land - Not the Mobile Home

Answered by: 

Question: 
When a consumer loan is secured only by real estate, the title to the mobile home that rests on the property is not taken as collateral. Should early disclosures be provided to the customer or can the loan be treated as if it is vacant land?
Answer: 

If you don't have a security interest in the mobile home, you don't have a RESPA loan; therefore, you don't have to give a P-TIL either.

First published on BankersOnline.com 3/22/10

First published on 03/22/2010

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