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#1212700 - 07/06/09 02:56 PM HMDA purchase?
Ski Offline
Platinum Poster
Joined: May 2003
Posts: 639
South Louisiana
An individual is purchasing a a 1-4 family residence which has a detached garage with several apartments.

Both properties will be leased to two fraternity chapters for their use. It would seem that this would be "transitory" housing, and NOT HMDA reportable.

Is it the use of the property by the leasee that designates the property as a "dwelling" or not for HMDA reporting purposes?

If yes, then I believe this is NOT HMDA reportable.

If no, then it would seem to be reportable.

Thanks in advance for any help.

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#1212706 - 07/06/09 03:00 PM Re: HMDA purchase? Ski
hmdagal Offline
Power Poster
hmdagal
Joined: Dec 2002
Posts: 3,817
I would consider this to be transitory housing and not reportable.

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#1212793 - 07/06/09 03:46 PM Re: HMDA purchase? hmdagal
Relax Offline
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Joined: Jul 2007
Posts: 571
That is what I do here - I just make sure and document the file.
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