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#1439069 - 09/03/10 06:00 PM HMDA Reportable?
Many Hats Offline
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Joined: May 2008
Posts: 915
Orlando, FL
Closed-end home equity loan application...for the purpose of paying off a loan with another bank for a motor home (not their primary residence).

Is this HMDA reportable?

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#1439087 - 09/03/10 06:10 PM Re: HMDA Reportable? Many Hats
Island Dreaming Offline
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Posts: 217
midwest
Is the loan being paid off currently secured by their residence?
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#1439096 - 09/03/10 06:14 PM Re: HMDA Reportable? Island Dreaming
Many Hats Offline
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Posts: 915
Orlando, FL
No, it was specifically a "recreational merchandise" loan.

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#1439104 - 09/03/10 06:28 PM Re: HMDA Reportable? Many Hats
tic toc Offline
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Springfield IL
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Property type: 1-4 Family Manufactured Housing or Multifamily Dwelling. Including Individual Condos or Cooperative Units.

I would not report a "recreational vehicle" aka motor home.
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#1439106 - 09/03/10 06:29 PM Re: HMDA Reportable? Many Hats
Island Dreaming Offline
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Joined: May 2009
Posts: 217
midwest
Then I'd say it isn't reportable since it isn't a purchase, a refinance of a dwelling secured loan or a home improvement.
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