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#1346128 - 02/19/10 04:34 PM More HMDA Help Needed
gunches Offline
100 Club
Joined: Dec 2005
Posts: 210
Customer uses his cabin as collateral on a loan purpose of which is the down payment on his primary residence - Is this HMDA reportable??

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#1346139 - 02/19/10 04:51 PM Re: More HMDA Help Needed gunches
Relax Offline
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Joined: Jul 2007
Posts: 571
If the cabin is not transitory - then I vote yes, it is reportable. You have a dwelling secured down payment loan - without that loan, the purchase would not take place. I would report it.
"I like a little rebellion now and then. It is like a storm in the atmosphere." -Thomas Jefferson

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