We have a loan request to purchase a residential property that will be converted to a place of worship. The bank will be in a first lien position. No one will be living at the property. Is this loan HMDA reportable?
If this property is already zoned to allow use as a place of worship and there is no chance of delay and use as rental residence pending zoning change, I would not treat this as HMDA reportable.
_________________________ Kathleen O. Blanchard, CRCM "Kaybee" HMDA/CRA Training/Consulting/Mapping The HMDA Academy www.kaybeescomplianceinsights.com