We have a loan to purchase a portable storage building. The loan is secured by a vehicle. Would this qualify as home improvement under HMDA?
Is an unsecured loan for an above ground swimming pool, to replace an existing pool damaged by weather considered HMDA? I know it would be if a pool had not already been in it's place, but being as there was once one existing there, I am little hazy on it.
We recently had an FDIC compliance exam and were criticized for gathering information on some home equity refinanced loans. We had been told in the past that if it was a refi, we should get the info...we are not a HMDA reporting bank. This examiner said that according to Regulation B it depended on what the principal percentage of what the refi was used for...either purchase money or HE. We checked with several non-HMDA banks and they are doing it like us. The examiner said we could question it, but this was his determination. Any help?
A son wants a loan to do improvement on his parents home. Is this HMDA reportable?
I have a loan for 3.7 million secured by 2 commercial buildings and (8) 4-plexes. We split our entries on the LAR. Would I divide the 3.7 million by 8 (the dwellings)and report as 8 entries on the LAR?
I have a commercial loan with two residential properties, one primary and one rental but the customer owns out right but the is not purchasing, refinancing or using any part of the loan for home improvements. Is this loan HMDA reportable? The purpose is for commercial investments into another business.
HMDA scenario- Customer uses primary residence to build a 4 plex. After the project is completed, the customer wants to use free and clear 4 plex to consolidate debts. One of those direct disbursements is going to pay off her principal residence as well as other installment obligations. Does HMDA apply on the free and clear residence and if so, why?
We disclosed a PTIL to refinance a borrowers home and add home improvement funds. At the closing, they decided not to improve reducing amount. Must we issue a new PTIL?
If you classify an unsecured loan that was for installing heating and cooling as a personal loan on your books, is that HMDA reportable?
I have a HMDA question. I have loan that is to purchase an apartment complex, 60 apartments in 5 separate buildings. Do I report this all at once or do I report each building separately?