It totally does Soccer Mom- from the description they provided it is a construction to perm scenario. Which would make the perm piece totally reportable, with a single app date of whenever and the construction phase backed out.
However, it doesn't sound like they actually stuctured the transacation that way internally. Just from what they said, it looks more like a flat construction or temp financing loan which will eventually have to be refied (looks like refried Ha). So they would be looking at a new application specifically for the refinance, rather than the single app for the Construction-to-perm.
The refi is obviously reportable.
I look at it as where the home is 75% built, they couldn't exactly call it a construction-to-perm.
Without all the pieces I think we are both guessing... that is just my take on it from what's been outlined.
Cheers!
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