If a deceased person leaves a MH to his son and the MH loan is paid off and a new loan is made to the son would it be reportable? Would this be excluded from reporting due to inheritance?

What is the purpose of the loan to the son?

To assume the debt.

What kind of debt? I thought the mobile home was paid off? The mobile home would have to be taken as security for the loan and the loan purpose must fall under one of the 3 HMDA purposes. If not, its not HMDA. The debt being assumed would have to be secured by a dwelling and this new loan secured by a dwelling as well.

So what we have is a loan secured by a mobile home. The Dad dies and leaves the MH to the son. So the son obtains a new loan secured with the same MH to pay off the loan that was in the fathers name.

This isn't a purchase - the son inherited the home.
It isn't a refi - the borrower on the old and new loans is not the same.
Unless there are any improvements being done this would not be reportable.

And this would not fall under the category of an assumption? Thats how I was looking at it.

Did you do an assumption agreement or a new loan?

New loan.

Then you probably shouldn't report it as an assumption.

OK, just want to be clear on this. It will not be reported at all because the property was inhereted?

Correct.

Thank you so much for talking me through this one hmdagal!