Definitions.

CFR · 2024-01-01 · US · Title 12

For the purpose of this part, including all forms and instructions issued for use under this part: (a) (b) (c) (d) (e) (f) (g) (h) (i) (1) A loan made in reliance upon the security of a mobile home will not be considered a real estate loan, although as a prudent banking practice the security interest is recorded or otherwise perfected as if the mobile home were real estate. For purposes of this part, a loan made in reliance upon the security of a mobile home and the parcel of land to which it is permanently affixed will be considered a real estate loan. (2) Where the bank relies substantially on the insurance guaranty of a governmental agency in making a loan, it does not constitute a real estate loan except for the purposes of § 27.4 of this part (Inquiry/Application Log). (j)

official document · source cfr-2024 · id 12:§ 27.2