Answer:
When a software like LaserPro is giving you such a warning, the best course of action is to pick up the phone and call them for an explanation on the basis of the warning. Most critical warnings that I have seen in LaserPro, if it involves a violation of State or Federal law, provides the citation of the law in question right in the critical warning that is provided. Additional questions of this nature should be directed to your own legal counsel. Having said that, you can refer to CHAPTER 7. RESIDENTIAL REAL ESTATE TRANSACTIONS in the PA Code and most likely what you will find is that only loans for construction financing to a bona fide builder or developer are excluded from the definition of a residential mortgage. But again, you need to be consulting your legal counsel for clarification.
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