Skip to content

RESPA, Secondary Collateral, and Farm Land

When a residence is secondary collateral on a loan for farm land that is more than 25 acres, does RESPA apply? The residence is located separately from the farm land.

Answer by David Dickinson:

No. 24 CFR 3500.5 indicates that any loan secured by 25 acres or more is exempt from RESPA. The home doesn't have to be on the > 25 acre portion.


Answer by Lucy Griffin:

I agree. The 25 acres gets the entire transaction out from under RESPA.

First published on 2/24/03

First published on 02/24/2003

Filed under: 
Filed under compliance as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics