I don't think that hits the mark, in my opinion. (B) Closed-end loans secured by a subordinate lien and (iii) The creditor or mortgage broker need not provide the booklet to the consumer for a consumer credit transaction secured by real property, the purpose of which is not the purchase of a one-to-four family residential property, including, but not limited to, the following: (ii) In the case of a home equity line of credit subject to § 1026.40, a creditor or mortgage broker that provides the consumer with a copy of the brochure entitled “When Your Home is On the Line: What You Should Know About Home Equity Lines of Credit,†or any successor brochure issued by the Bureau, is deemed to be in compliance with this section. If a consumer uses a mortgage broker, the mortgage broker shall provide the special information booklet and the creditor need not do so. However, if the creditor denies the consumer's application before the end of the three-business-day period, the creditor need not provide the booklet. (i) The creditor shall deliver or place in the mail the special information booklet not later than three business days after the consumer's application is received. 2604) to help consumers applying for federally related mortgage loans understand the nature and cost of real estate settlement services) to a consumer who applies for a consumer credit transaction secured by real property. Except as provided in paragraphs (g)(1)(ii) and (iii) of this section, the creditor shall provide a copy of the special information booklet (required pursuant to section 5 of the Real Estate Settlement Procedures Act (12 U.S.C. (1) Creditor to provide special information booklet. (g) Special information booklet at time of application. Based on the below it is 1-4 family closed-end purchases that are 1st lien:
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |