My 2nd HMDA question in 2 days!
Dad and Daughter A purchased a rental house together, which the bank financed. Daughter A sold Daughter B her share of the property. The bank did a new loan (which refinanced the original purchase loan) to Dad and Daughter B.
So is it a refi, dwelling secured loan satisfying and replacing a dwelling secured loan to the same borrower (Dad), or a purchase since Daughter B is buying half from Daughter A? I know purchase trumps refi, but this one is a little different for me.
Thoughts?
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CRCM