Answer:
If the loan is not subject to RESPA (you "over" disclose), then the disclosures are not subject to the regulation. Therefore, you cannot (or should not) be cited for any errors.
First published on BankersOnline.com 3/14/11
RESPA Disclosures on Construction Loans
Answered by:
Question:
Our bank has chosen to give early RESPA disclosures on all construction loans in an effort to minimize any slipping through that were not exempt. Can we be cited for errors that may be on these documents even though the documents were not required by the Reg and we have made this our policy?
print
share