Skip to content

Early Disclosures for Grantor on RE Mortgage

Answered by: 

Question: 
I have a Borrower and a Grantor on a RE Mortgage Loan - what Early Disclosures does the Grantor need to receive?
Answer: 

A grantor would not be a consumer under Reg. Z's definition therefore they would not receive any early disclosure.

However, if the property being granted is the grantor's primary residence then they would be a consumer for the purposes of rescission.

See 1026.2(a)(11) and its Commentary.

First published on 11/17/2014

Filed under: 
Filed under lending as: 

Search Topics