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Vehicles to Pay Off CC-RE Disclosures

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I have a borr​o​wer ​who wants to pay off credit card debt with a consumer loan from our institution. The collateral in this case would be ​two​ vehicles and I would like to reference an existing mortgage that is on a rental property (owned by my borrowe​​r​'​s father.) The borrower is not the ​owner of the​ RE 1-4 family rental property. What RE disclosures do you see need to apply?

If the existing mortgage will secure the loan, then you have a interest in real property and all TRID disclosure would apply.

First published on 04/22/2018

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