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#2112965 - 01/04/17 03:28 PM HMDA reportable or not?
gms2013 Offline
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Joined: May 2013
Posts: 76
KY
We have a loan for a customer who will be adding gravel to their drive. Does anyone think this would be considered home improvement reportable for HMDA?

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#2112973 - 01/04/17 04:12 PM Re: HMDA reportable or not? gms2013
Truffle Royale Offline

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Joined: Jul 2003
Posts: 17,395
Sure...why not? They need access to their house so they need to put more gravel down. Same as doing landscaping is considered HI, I'd say this is too.

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#2112977 - 01/04/17 04:15 PM Re: HMDA reportable or not? Truffle Royale
gms2013 Offline
Member
Joined: May 2013
Posts: 76
KY
thanks

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#2113037 - 01/04/17 07:13 PM Re: HMDA reportable or not? gms2013
SMQ, CRCM Offline
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Joined: Apr 2001
Posts: 4,828
Between the lines
FWIW, agree with TR


Home improvement loan means:
(1) A loan secured by a lien on a dwelling that is for the purpose, in whole or in part, of repairing,
rehabilitating, remodeling, or improving a dwelling or the real property on which it is located; and
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#2113192 - 01/05/17 07:28 PM Re: HMDA reportable or not? gms2013
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
I, too, agree. Real property improvements.
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