I disagree. Purpose is to purchase a home (although not theirs). Collateral is a residential dwelling, although not the dwelling being purchased. Page 28, GIR.
On page D-5 of the appendix, "a home purchase loan includes a loan secured by one dwelling and used to purchase another dwelling."
Born once? Die twice.
Born twice? DIE ONCE!
Loan Review, HMDA, ALLL
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