I have a cashout on an apartment building the purpose is to payback investors. Would the loan purpose be Cash Out-Others?

This is a business purpose loan, right? As such, it's not HMDA reportable unless it's a home purchase loan, a home improvement loan or a refinancing.

In other words, if the only category your loan fits into is "other," it won't be reportable if it is a business purpose loan.

Wait a minute. We actually need more info to give you a correct response. Is this new loan a refinancing of an existing loan with both the old loan and the new loan secured by the apartment building, with cash out to reimburse investors?

There is no loan outstanding the property is free and clear, money to buy out the investors.

Would "buy out" be a purchase? Not sure I understand...

Who is your customer (individual, entity, etc) and who is the property currently titled/deeded to?

Actually the credit analysis states that we are payoff existing loans and additional funds be used buyout affiliated partner. The loan is to a business entity.

You're paying off 'other' debt - right? Not loans with liens on a dwelling?

We are paying off loans with leans on a dwelling, and cashing out to buy out the affiliate partners.

Sounds like you have a HMDA reportable refi then.

Unless "buy out the affiliate partners" means that the home is currently titled in the affiliate partners names and this loan will transfer ownership to your borrowers--in that case, you'd have a purchase.

To summarize, the bottom line is that you need to determine whether you have a purchase, refinance, or home improvement loan for a business purpose loan to be HMDA reportable. Based on what you provided, we aren't 100% sure, so we don't want to lead you down the wrong path.

If the funds are paying of existing loans (which will be satisfied and replaced by the new financing) where the same entity is the owner on the prior loan(s) as well as the new loan, then it would be a refinance.

If the "buy out" means that title is transferring, it would probably be a purchase.

If the loan doesn't meet the definition of a refinance or purchase (or home improvement), then it would not be reportable at all.

Again, I'm just not sure that we have enough information to give you a 100% answer at this point as you really need to dot your "i's" and cross your "t's" to ensure it is properly reported.