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#1879094 - 12/16/13 09:48 PM dwelling purchased by hunting club
Glo Offline
Gold Star
Joined: Jul 2005
Posts: 394
Arkansas
If there is a hunting club(loan is in the hunting club's name) that is purchasing a mobile home to put on their camp property and it's secured by the home, would this be considered owner occupied or non-owner occupied for HMDA purposes?

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#1879165 - 12/17/13 01:48 AM Re: dwelling purchased by hunting club Glo
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,395
What will the mobile home be used for? If it's transient housing, it's non-reportable for HMDA.

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#1879166 - 12/17/13 02:32 AM Re: dwelling purchased by hunting club Glo
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
If the use will be as a clubhouse, or gun storage, etc., it will not be reportable either. The loan will be reportable only if the mobile home will be used as someone's residence.
Last edited by Kathleen B; 12/17/13 02:34 AM.
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Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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#1879176 - 12/17/13 12:57 PM Re: dwelling purchased by hunting club Glo
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
To answer the OP's specific question, a hunting club or any other entity cannot "occupy" the mobile home, so if the loan is reportable, it would be non-owner occupied.
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#1879187 - 12/17/13 01:28 PM Re: dwelling purchased by hunting club rlcarey
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Originally Posted By: rlcarey
To answer the OP's specific question, a hunting club or any other entity cannot "occupy" the mobile home, so if the loan is reportable, it would be non-owner occupied.


smile
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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#1879198 - 12/17/13 02:15 PM Re: dwelling purchased by hunting club Glo
Glo Offline
Gold Star
Joined: Jul 2005
Posts: 394
Arkansas
You know, that thought crossed my mind that it would not be reportable. Thank you all for your help! Also, thank you rlcarey, for the answer to my specific question.LOL I wish you all a Merry Christmas! smile

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