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#1443313 - 09/15/10 05:06 PM Loan Servicing Disclosure Stmt
Many Hats Offline
Platinum Poster
Joined: May 2008
Posts: 915
Orlando, FL
A Loan Servicing Disclosure Stmt is only required for 1st lien position loans correct?

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RESPA
#1443331 - 09/15/10 05:23 PM Re: Loan Servicing Disclosure Stmt Many Hats
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,866
Bloomington, IN
See 3500.21(a) -

Mortgage servicing loan means a federally related mortgage loan, as that term is defined in Sec. 3500.2, subject to the exemptions in Sec. 3500.5, when the mortgage loan is secured by a first lien. The definition does not include subordinate lien loans or open-end lines of credit (home equity plans) covered by the Truth in Lending Act and Regulation Z, including open-end lines of credit secured by a first lien.
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The opinions expressed are mine and they are not to be taken as legal advice.

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