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HMDA
HMDA ORE Property
Thread Options
#1249428
-
09/14/09
01:06 PM
HMDA ORE Property
gunches
100 Club
Joined:
Dec 2005
Posts: 210
We foreclosed on a loan and sold the property on a contract for deed. Is this HMDA reportable as a purchase??
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HMDA
#1249545
-
09/14/09
03:08 PM
Re: HMDA ORE Property
gunches
Kathleen O. Blanchard
10K Club
Joined:
Dec 2000
Posts: 21,293
Did you finance the purchase? Is that what you mean by "sold the property on a contract for deed"?
If you originated a new loan for the new borrower to purchase the property, then you have a HMDA reportable origination.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com
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#1250144
-
09/15/09
01:31 PM
Re: HMDA ORE Property
gunches
Dan Persfull
10K Club
Joined:
Aug 2002
Posts: 47,532
Bloomington, IN
Do a search using "contract for deed" and you will find several discussions such as
this one
.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.
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