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Mobile Home – RESPA/TRID Exemptions

Question: 
We are considering financing the purchase of mobile homes that will be placed in rental slots in a new mobile home park. Will we have to worry about complying with RESPA on these loans?
Answer: 

No. Suffice it to say that you will not be making a Federally Related Mortgage Loan because under RESPA you won’t have the dirt as collateral. This also avoids TRID.
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Learn more about Andy Zavoina’s webinar Mobile Home Loan Compliance

First published on 10/02/2016

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