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#1856213 - 09/26/13 09:36 PM Loan to Foundation
Princess of Power Offline
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Princess of Power
Joined: Aug 2002
Posts: 406
Napa, CA
We are making a loan to a very large local non profit foundation that will be secured by 1 commercial and 3 residential properties (all acquired in last 3 years from foundation cash reserves). The properties are leased to other non-profit's who operate a job training/placement center and in the case of the residential properties - 2 half way houses for recovering addicts and a transitional house for homeless individuals. Is this loan HMDA reportable and if so, is it considered a refiance and I just choose one of the residental properties for tract data.

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#1856220 - 09/26/13 10:37 PM Re: Loan to Foundation Princess of Power
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,277
It is not a purchase and not home improvement. Unless the loan is paying off a residential secured loan to same borrower, it is not a refi and therefore not HMDA reportable. A refi of this loan also secured by residential real estate will be HMDA reportable.
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Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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#1856225 - 09/26/13 11:27 PM Re: Loan to Foundation Princess of Power
Princess of Power Offline
Gold Star
Princess of Power
Joined: Aug 2002
Posts: 406
Napa, CA
Thank You

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#1856228 - 09/27/13 12:20 AM Re: Loan to Foundation Princess of Power
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,277
Of course take all of the community development credit you can get.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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