3.4- What Types of loans is RESPA applicable to?


RESPA is applicable to all "Federally Related Mortgage Loans". These are (other than temporary loans), including refinancings, that satisfy the two criteria:

(1) The loan is secured by a first or subordinate lien on residential real property, located within a State, upon which either:

(a) A one-to-four family structure is located or is to be constructed using proceeds of the loan (including individual units of condominiums and cooperatives); or

(b) A manufactured home is located or is to be constructed using proceeds of the loan.

(2) The loan falls within one of the following categories:

(a) Loan made by a lender, creditor, dealer
(b) Loans made or insured by an agency of the federal government
(c) Loans made in connection with a housing or urban development program administered by an agency of the federal government
(d) Loans made and intended to be sold by the originating lender or creditor to FNMA. GNMA, or FHLMC (or its successors)
(e) Loans that are the subject of a home equity conversion mortgage or reverse mortgage issued by a lender or creditor subject to the regulation.