Which type of mortgage loan transaction is specifically excluded from the definition of a Higher-Priced Mortgage Loan under TILA?
Correct Answer
C) Construction-to-permanent loans
Under TILA Section 1026.35(a)(2), construction-to-permanent loans are specifically excluded from the HPML definition. This exclusion applies during the construction phase of such loans.
Why This Is the Correct Answer
Under TILA Section 1026.35(a)(2), construction-to-permanent loans are specifically excluded from the HPML definition. This exclusion applies during the construction phase of such loans.
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