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#1933692 - 06/18/14 05:50 PM Is this a transitory residence?
mdorwin Offline
Junior Member
Joined: Nov 2006
Posts: 48
Borrower operates a residential adolescent treatment program. They bought a house for people to live in as they progress in their treatment program over a period of several months up to a year or two. I think this is "transitory" so it would be excluded from HMDA. Thoughts???

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#1933695 - 06/18/14 05:56 PM Re: Is this a transitory residence? mdorwin
manimal Offline
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manimal
Joined: Feb 2008
Posts: 2,207
Deleted
I'd tend to agree, they most likely have permanent homes elsewhere, right?
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#1933710 - 06/18/14 06:29 PM Re: Is this a transitory residence? mdorwin
JSD Offline
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JSD
Joined: Oct 2000
Posts: 512
USA
When we have these requests, we do not report because as mentioned they are truly transient housing.

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