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#1746020 - 10/02/12 08:34 PM Condominium Building
Love Cruising Offline
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Joined: Mar 2009
Posts: 248
Loan to finance the purchase of a 50 unit condominium building. Is it HMDA reportable?

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#1746029 - 10/02/12 08:46 PM Re: Condominium Building Love Cruising
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
Yes. But without more details we don't know if it would be reported as a multi-family dwelling or as multiple 1-4 family dwellings. Most likely it will be multiple 1-4 family dwellings.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#1746032 - 10/02/12 08:49 PM Re: Condominium Building Dan Persfull
Love Cruising Offline
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Joined: Mar 2009
Posts: 248
85% of the units are residential and the remaining commercial.

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#1746177 - 10/03/12 02:50 PM Re: Condominium Building Love Cruising
Love Cruising Offline
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Joined: Mar 2009
Posts: 248
Yes, that is correct.

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#1746183 - 10/03/12 02:59 PM Re: Condominium Building Love Cruising
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
Originally Posted By: Love Cruising
85% of the units are residential and the remaining commercial.


Assuming these are individually deeded units then you have multiple 1-4 dwellings.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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