Try this FAQ: "When is a loan 'temporary financing' such that it is exempt from reporting? Answer: The regulation lists as examples of temporary financing construction loans and bridge loans... Construction and bridge loans are illustrative, not exclusive , examples of temporary financing. The examples indicate that financing is temporary if it is designed to be replaced by permanent financing of a much longer term. A loan is not temporary financing merely because its term is short. For example, a lender may make a loan with a 1-year term to enable an investor to purchase a home, renovate it, and re-sell it before the term expires. Such a loan must be reported as a home purchase loan...
_________________________
I'm fixin' to fix that.