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Do temporary constructions loans need TRID disclosures?

Question: 
Do temporary construction loans need to receive either a Loan Estimate or a Closing Disclosure?
Answer: 

Integrated disclosures are required for closed-end consumer credit transactions secured by real property, other than a reverse mortgage. The previous exemption for temporary financing has been deleted. Construction loans must receive a loan estimate and a closing disclosure for applications received on or after October 3, 2015.
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Learn more about Jack Holzknecht’s webinar TRID for Construction Loans

First published on 09/15/2019

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