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#2296499 - 04/26/24 08:32 PM Consumer Loan secured by a vehicle for education
Banker75 Offline
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Joined: Sep 2021
Posts: 110
If I have a borrower that want to borrow money for educational purposes and use their vehicle as collateral, will additional disclosures need to be provided like a traditional student loan?

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Lending Compliance
#2296502 - 04/26/24 08:58 PM Re: Consumer Loan secured by a vehicle for education Banker75
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,531
Galveston, TX
Unless secured by real property, all of the student loan provisions of Regulation Z will apply.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2296509 - 04/26/24 09:13 PM Re: Consumer Loan secured by a vehicle for education Banker75
Banker75 Offline
100 Club
Joined: Sep 2021
Posts: 110
That was what I was thinking and I appreciate you confirming this for me.

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