Skip to content
Thread Options
#2262945 - 11/29/21 08:15 PM Reportable?
jel99 Offline
Junior Member
Joined: Sep 2021
Posts: 27
Is a purchase for a convenience store, car wash, residential (rental) apartments, and storage units HMDA reportable as a purchase? None of them are connected building wise, but are located on the same block.

Return to Top

HMDA Academy
#2262948 - 11/29/21 08:54 PM Re: Reportable? jel99
raitchjay Online
Power Poster
Joined: Oct 2009
Posts: 8,825
Well, in the old days this would have been easy enough since mixed use was all about one structure. You say they aren't connected as far as buildings....but are the structures considered to be on the same tract or no? Based on the information provided, it sounds reportable as a purchase......but if on the same tract, you'd need to employ the mixed use test to determine the "property's" primary use. Out of curiosity, are all of the buildings currently owned by the same person/entity?
I'm fixin' to fix that.

Return to Top
#2263483 - 12/10/21 08:42 PM Re: Reportable? jel99
compgal21 Offline
Junior Member
Joined: Jan 2021
Posts: 40
Mixed use - If the rental apartments provide more income than the other buildings, then the primary use of the loan would be the apartment rentals. Not HMDA reportable - if the other buildings will generate more profit than the apartments.

Return to Top

Moderator:  SMQ, CRCM