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#2299200 - 07/11/24 01:17 PM Participating a Consumer Loan
Wonderofitall Offline
100 Club
Wonderofitall
Joined: Sep 2010
Posts: 225
Out West
Are there any regulatory restrictions affecting participating a consumer mortgage loan? Our note/mortgage permits the sale of all or partial interest in the note/mortgage.
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Lending Compliance
#2299202 - 07/11/24 01:25 PM Re: Participating a Consumer Loan Wonderofitall
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 84,530
Galveston, TX
No limitations, but it would be covered under 1026.39—Mortgage transfer disclosures.
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#2299903 - 07/30/24 09:59 PM Re: Participating a Consumer Loan Wonderofitall
fmissle Offline
Diamond Poster
Joined: Jul 2007
Posts: 1,023
Pac NW
Randy, in most participations, the originating bank retains a portion of the loan as well as the servicing of the loan. Do you think that would fall under the exception listed in 12 CFR 1026.39(c)(3)

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#2299905 - 07/30/24 10:09 PM Re: Participating a Consumer Loan Wonderofitall
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 84,530
Galveston, TX
As long as your participation agreement addressee those issues as to the responsible party, I think it would.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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