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#1524428 - 03/21/11 02:26 PM Another is it or is not HMDA reportable question
Dodge Offline
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Joined: Mar 2010
Posts: 238
We have a borrower who is using their house in town as collateral to purchase a house in Mexico. The house here in town is fully paid for.

Is this HMDA reportable?

Also, we have another borrower who is building a house in Mexico and using their house in town that is fully paid for as collateral.

Is this HMDA reportable?

I believe it is HMDA reportable and it would be coded as a purchase.
Last edited by giants06; 03/21/11 02:27 PM.
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#1524429 - 03/21/11 02:30 PM Re: Another is it or is not HMDA reportable question Dodge
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,765
Bloomington, IN
See the definition of a dwelling in 203.2.
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The opinions expressed are mine and they are not to be taken as legal advice.

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