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Consumer Loan on Land - Not the Mobile Home

Question: 
When a consumer loan is secured only by real estate, the title to the mobile home that rests on the property is not taken as collateral. Should early disclosures be provided to the customer or can the loan be treated as if it is vacant land?
Answer: 

If you don't have a security interest in the mobile home, you don't have a RESPA loan; therefore, you don't have to give a P-TIL either.

First published on BankersOnline.com 3/22/10

First published on 03/22/2010

Filed under: 
Lending
Security
Filed under lending as: 
Collateral
Disclosures
Estate
Interest
RESPA
Security
Security Interest
Filed under security as: 
Collateral
Disclosures
Estate
IT
Security
Security Interest

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