FORUM PROFILE

Reply To: Force Placed – Builders Risk

#5553
rcooper
Member

My understanding of your first question was that it was a construction permanent loan. But if it is temporary financing (i.e. construction loan only) RESPA wouldn’t apply and the RESPA force-place rules wouldn’t apply. Look at 1024.5(b) for the definition of temporary financing: https://www.bankersonline.com/regs/12-1024/12-1024-005.html.