Skip to content
BOL Conferences Top Gun 23
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Dodd-Frank Final Rules Discussions HMDA Overhaul 2018 ABC Properties, LLC -collateral is an I/P
Thread Options
#2178517 - 05/17/18 02:45 PM ABC Properties, LLC -collateral is an I/P
Catm1991 Offline
100 Club
Joined: Jul 2014
Posts: 194
MO
I have a loan that was given too ABC Properties, LLC for cash out too pay on their Line of Credit loan they have with us. As collateral we have a residential dwelling that is one of the investment properties, that they OWN.

Since they are not purchasing, it's not a refinance, because we are not paying off an existing loan, and not for any improvements, so my question is....since our collateral is owned free and clear, and they are getting cash out too pay down their line of credit they have with us, would this be reportable??

Return to Top
HMDA

   
HMDA Academy
#2178519 - 05/17/18 02:50 PM Re: ABC Properties, LLC -collateral is an I/P Catm1991
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 81,319
Galveston, TX
Nope
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2178560 - 05/17/18 04:47 PM Re: ABC Properties, LLC -collateral is an I/P Catm1991
Catm1991 Offline
100 Club
Joined: Jul 2014
Posts: 194
MO
Great, I didn't think so. Thank you.

Return to Top