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#2106239 - 11/07/16 07:14 PM Purchase to Flip Home - Location to Report?
Likes to Comply Offline
Diamond Poster
Joined: Nov 2008
Posts: 1,109
In the mountains
We have a CD secured loan to purchase a home to flip. The borrowers do not have a formal business location they operate from, the just operate out of their home. Do we report the borrowers home address (geocoding) for CRA since it is the base of operation or do we report the address of the home being purchased to flip?
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CRA
#2106291 - 11/08/16 12:21 AM Re: Purchase to Flip Home - Location to Report? Likes to Comply
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Your choice.....main business address or use of proceeds address.
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Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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#2106425 - 11/08/16 08:12 PM Re: Purchase to Flip Home - Location to Report? Likes to Comply
Likes to Comply Offline
Diamond Poster
Joined: Nov 2008
Posts: 1,109
In the mountains
Thanks smile
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