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#1175309 - 05/04/09 06:22 PM Business purpose with primary residence
HR Banker Offline
Diamond Poster
Joined: Oct 2002
Posts: 1,027
Business loan is secured by mobile home park & fixtures. The owner of the park also lives on the property. His dwelling is part of the entire property securing the loan. Does ROR and/or HMDA apply?

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Lending Compliance
#1175366 - 05/04/09 07:36 PM Re: Business purpose with primary residence HR Banker
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,535
Bloomington, IN
See the Commentary to 226.23(1).

Can't answer the HMDA question because you don't give the loan's purpose.
Last edited by Dan Persfull; 05/04/09 07:37 PM.
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The opinions expressed are mine and they are not to be taken as legal advice.

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