Answer:
The first requirement to be a Federally Related Mortgage Loan under RESPA is that you have to have a lien on real property. Without any land, there is no coverage by RESPA.
First published on BankersOnline.com 6/25/07
Mobile Home, No Land- RESPA?
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Question:
Would RESPA apply to a loan that is secured by a mobile home (personal residence) without taking the land?
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