We are having a disagreement on whether or not a Denial for a construction only loan will be put on the LAR. I believe that it is reported, but I am getting push back that it is not to be put on the LAR because it would be temporary financing. Please help.
If it’s a construction only and not replaced by permanent financing with you or another institution, then it is a short term loan and not temporary. Short term loans are reported.
To be exempt as temporary financing, loans must have 2 phases beginning in 2018.