Viewers see the
structure take shape before their eyes, with the frame rising
from the
vacant lot, exterior cladding applied and finishing touches added, until the image looks more like a photograph than an artist's rendering.
Regulation X currently exempts
from coverage any loan secured by
vacant or unimproved property, unless, within two years
from the date of the settlement of the loan, a
structure or a manufactured home will be constructed or placed on the real property using the loan proceeds.