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How does the coverage of home equity loans and subordinate lien loans differ from other RESPA covered loans?

April 26, 2017coverage Covered differ home equity lien Loans RESPA subordinate

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How does the coverage of home equity loans and subordinate lien loans differ from other RESPA covered loans?

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If the loan involves an open-end line of credit, providing the disclosures required by Regulation Z satisfies the RESPA good faith estimate and the HUD-1 or HUD-1A requirements. Both subordinate lien loans and open-end lines of credit (home equity loans) in first lien position are exempted from the loan servicing requirements.