FORUM PROFILE

ROV

Tagged: 

Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • October 7, 2024 at 12:15 pm EDT #345177
    lumullins1121
    Participant

    Are commercial loans included in the requirements for Reconsideration of Value?

    October 14, 2024 at 9:58 am EDT #345218
    Kimberly Boatwright, CAMS, CRCM
    Keymaster

    Currently, the rules are focused on Consumer lending. However, I would not forget that Small Business tends to follow the lead of consumer. With 1071 rules going into play, you may want to consider any loans that will use personal property as collateral falling into these rules.

    NOTICE: This email message, including any attachments, is intended only for the addressee, and may contain confidential and privileged information either as protected work product or confidential client information. Any unauthorized review, use, disclosure or distribution is prohibited. If you are not the intended recipient, do not read, copy, retain, or disseminate this message or any attachment, and please contact the sender by reply e-mail or at 888.760.5646and destroy all copies of the original message and attachments. Neither the transmission of this message or any attachment, nor any error in transmission or misdelivery shall constitute waiver of any applicable legal privilege.

    THIS EMAIL AND ITS ATTACHMENTS DO NOT CONSTITUTE LEGAL ADVICE

    October 29, 2024 at 11:26 am EDT #345395
    lumullins1121
    Participant

    So would you consider a second home, not otherwise used for commercial purposes, to be personal property and included in these rules? I am thinking Yes, but I really hate to make this even more complicated for our commercial lenders.

  • Author
    Posts
Viewing 3 posts - 1 through 3 (of 3 total)
  • You must be logged in to reply to this topic.