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#1406538 - 06/22/10 02:44 PM Non Owner Occupied Condo Purchase.
Skeeter1951 Offline
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Joined: Feb 2010
Posts: 61
Mobile, AL
I have a $137K loan that is fully secured by certificates of deposit, and the proceeds were used to purchase a nonowner occupied condominium. Is this a HMDA reportable loan.

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#1406542 - 06/22/10 02:49 PM Re: Non Owner Occupied Condo Purchase. Skeeter1951
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Between the lines
No, a purchase must be secured by a dwelling (any dwelling, doesn't have to be the one being purchased).
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#1409185 - 06/28/10 09:17 PM Re: Non Owner Occupied Condo Purchase. SMQ, CRCM
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