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#2259906 - 09/20/21 02:23 PM commercial applicant
HMDA2021 Offline
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Joined: Apr 2021
Posts: 2
Hi all,

I have a borrower whom applied for a refinance as an individual but it was determined the property is in the name of their trust. Would you report as an individual or the trust. This loan did not close.

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#2259909 - 09/20/21 02:26 PM Re: commercial applicant HMDA2021
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,269
Galveston, TX
You report based on applicant do you not - not who owns the property.
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#2259910 - 09/20/21 02:28 PM Re: commercial applicant rlcarey
HMDA2021 Offline
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Joined: Apr 2021
Posts: 2
Thank you!

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#2259912 - 09/20/21 02:31 PM Re: commercial applicant HMDA2021
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,269
Galveston, TX
Also, if the property is owned by a revocable inter-vivos trust, this would not be a commercial application anyway.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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