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#2003699 - 03/24/15 06:49 PM Apartment Community
Catm1991 Offline
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Joined: Jul 2014
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MO
Is a loan for an apartment community hmda reportable?

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#2003703 - 03/24/15 06:55 PM Re: Apartment Community Catm1991
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
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Multi-family properties are reportable, assuming the loan fits into purchase, home improvement, or refinance.
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#2003704 - 03/24/15 06:56 PM Re: Apartment Community Catm1991
Dani York, CRCM Offline
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Dani York, CRCM
Joined: Apr 2005
Posts: 3,663
TN
Is it:

1--to purchase a dwelling and secured by a dwelling?
2--to improve a dwelling or the land on which a dwelling sits?
3--a dwelling secured note that replaces and satisfies and existing dwelling secured note?

If yes to any of the above, then yes it is reportable (assuming these are not transient dwellings--ie hotel, dorms, etc).
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#2003711 - 03/24/15 07:01 PM Re: Apartment Community Catm1991
Catm1991 Offline
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It is investment property...it is a refinance, where we are paying off another bank, and it is 2 different apartment communities. So I think refinance?

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#2003712 - 03/24/15 07:03 PM Re: Apartment Community Catm1991
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Same borrower on old and new loans (regardless of who held old loan), both loans secured by residential property, paying off prior loan...refinance.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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#2003714 - 03/24/15 07:08 PM Re: Apartment Community Catm1991
Catm1991 Offline
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Joined: Jul 2014
Posts: 194
MO
Ok, thank you. I was doubting myself and just wanted to double check. Ya'll are great! I'm new to HMDA and this site is sooo helpful! Thank you.

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