Borrowers submitted an application yesterday to purchase a primary residence. We were working on preparing the LE when we received an email that the borrower's offer did not get accepted and they were withdrawing their application. No AAN necessary but on the write-up I received from the loan officer it stated that this was an 'interest only loan for 6 months and loan will be refinanced through the secondary market'. Is this HMDA reportable as a purchase or no because it 'was going to be' temporary financing?
Thanks.