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#1545190 - 05/04/11 12:57 PM HMDA Reportable - unsec loan to p/o MFH
Many Hats Offline
Platinum Poster
Joined: May 2008
Posts: 915
Orlando, FL
We have an existing loan for a manufactured home. The borrowers are selling the home and there will be a deficiency in the payoff. So, the borrowers have applied for an unsecured loan for the remaining balance.

Is this HMDA reportable? I didn't think so, but it's early and I haven't finished my coffee, so I wanted another opinion.

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#1545289 - 05/04/11 02:01 PM Re: HMDA Reportable - unsec loan to p/o MFH Many Hats
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,951
Bloomington, IN
Non dwelling secured loans for the purchase or refinancing of a dwelling do not meet the definitions of a home purchase or refinancing.
The opinions expressed are mine and they are not to be taken as legal advice.

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