Skip to content
BOL Conferences
Thread Options
#2178948 - 05/21/18 05:19 PM Manufactured Home Community
crcmnot Offline
Gold Star
Joined: Sep 2016
Posts: 351
We have been non-HMDA reportable for a couple of years so trying to keep up with all of the nuances of the regulation can be a little challenging at times and I am doing some prep-work for my HMDA tracking log. We will be originating a commercial loan secured by a mobile home park and after consummation, the mobile homes will be removed. I do not know how many individual mobile homes are in the park yet but I understand that if it is 4 or less they are considered individual dwellings; 5 or more it is considered multifamily.

Is there only 1 LAR entry for this loan regardless if there are 4 or less or 5 or more mobile homes?
Would the' # of units' data point be '4' if there are 4 mobile homes and '# of units' be '1' if it is 5 or more?

I am trying to determine if I will be over the 24 loans for the HMDA reporting exemption and hoping that regardless of how many mobile homes there are there is still only 1 LAR entry.

Thank you!

Return to Top
HMDA

   
HMDA Academy
#2178949 - 05/21/18 05:26 PM Re: Manufactured Home Community crcmnot
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
You report how many pads there are, regardless of if any MH's exist or not. If it's more than 4 you also report how many [probably not any] are Affordable housing units.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

Return to Top
#2178950 - 05/21/18 05:26 PM Re: Manufactured Home Community crcmnot
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
and yes, it's one entry
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

Return to Top
#2178951 - 05/21/18 05:27 PM Re: Manufactured Home Community RR Joker
crcmnot Offline
Gold Star
Joined: Sep 2016
Posts: 351
Phew - that was good news. Thank you RR!

Return to Top