Thread Options
#1249428 - 09/14/09 01:06 PM HMDA ORE Property
gunches Offline
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??

Return to Top

HMDA Academy
#1249545 - 09/14/09 03:08 PM Re: HMDA ORE Property gunches
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,277
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

Return to Top
#1250144 - 09/15/09 01:31 PM Re: HMDA ORE Property gunches
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,710
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.

Return to Top

Moderator:  SMQ, CRCM