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That's correct, I should elaborate my comment... The wrappee would be prudent to put a caviet on the title to protect their interests. If the lender discovers the caviet they may ask questions and a title search from a refinance or similar will disclose the caviet to the lender.

Hi Johnston, These days most wrappers simply aren't telling the bank what they're doing. I've even had instances where the lender has said, "Don't tell, we won't ask". Despite this, you can be assured that wrapping is well outside of most conforming and non conforming residental lenders at...

As a few people already know, I've spent a lot of time looking for lenders who will accept wraps and generally the policy is they simply won't do them.