Answer:
You will have to review Regulation Z Section 1026.20 to determine whether this would be considered a refinancing or not.
First published on BankersOnline.com 6/18/12
Regs on Renewals Secured w/ Primary
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Question:
Can you tell us which regs apply on renewals secured with a primary residence? Here is the scenario: A loan (on our books) secured with a home matures. No new funds are advanced. We renew the existing loan for an additional three years. Which disclosures are we required to provide?
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