What types of variable rate real estate loans are exempt from ARM disclosures?

Answered by:

Question:

What type(s) of variable rate R/E loan (s) exempt from ARM disclosures?

Answer:

Exempt from ARM requirements:
Term of one year or less; or
Not secured by principal dwelling; or
Rate cannot increase; or
Exempt from Reg Z completely in accordance with 226.3

-February 19
Flood - Dodging the BIG Wave , presented by Lucy Griffin and David Dickinson

First published on BankersOnline.com 2/2/03