Special Information Booklet and Refinancing

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Question:

Is the Special Information Booklet (Reg X) required on refinances with a different lender? I know that it is not required on a refinance from the same lender. Please clarify.

Answer:

3500.6(a)(3) exempts lenders from having to provide the booklet in refinancing transactions. It does not differentiate between same or different lenders.

First published on BankersOnline.com 8/04/08