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If a loan is sold within 1-7 days of closing to another lender, does the sale of that loan fall within RESPAs coverage?

April 26, 2017closing coverage days fall Lender loan RESPA sale sold

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If a loan is sold within 1-7 days of closing to another lender, does the sale of that loan fall within RESPAs coverage?

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The sale of a loan after the original funding of the loan at settlement is a secondary market transaction. Such a sale is exempt from RESPA coverage as a secondary market transaction. However, any transfer of ownership and/or servicing rights is subject to RESPA’s requirements in Section 6.