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RESPA Applicable to a Consumer Installment Loan?

Answered by: 
David A. Dickinson

Question: 
Does RESPA apply to a consumer installment loan against some land with a mobile home on it? The mobile home is not on the note, mortgage or any security interest.
Answer: 

If you do not have a security interest in a 1-4 family dwelling, you do not have a RESPA covered loan. Refer to Section 3500.5 for more information.

First published on BankersOnline.com 5/26/08

First published on 05/26/2008

Filed under: 
Lending
Security
Filed under lending as: 
Interest
RESPA
Security
Security Interest
Filed under security as: 
Security
Security Interest

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