[WSBARP] Mortgage Lending Question

[Jan Kelly]

Good morning fellow list members,

A PC wants to lend a small sum of money to a friend who is $20K short of
having sufficient funds to buy a house on a cash sale. The PC happens to be
a loan officer, but would be lending in his private capacity as a friend of
the buyer. As this is for residential, primary residence purposes, I don't
think this is allowed, but I don't work on the residential side of lending
contracts. If anyone can provide guidance, I would appreciate it. Thank you
in advance.

-- 


*Jan Kelly, JD/MBA*Attorney at Law

JK Law
PO Box 1964
Poulsbo, WA 98370
Direct Line (702) 338-6733
Facsimile (360) 779-2265

*Licensed in Nevada and Washington*.

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