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#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??

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#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: 21,293
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.
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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 Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
Do a search using "contract for deed" and you will find several discussions such as this one .
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The opinions expressed are mine and they are not to be taken as legal advice.

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