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#2264298 - 01/05/22 02:29 PM Short Term rentals/reportable?
dutchbltz Offline
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Joined: Oct 2015
Posts: 207
What's everyone's take on the reportability of short term rentals?

I have always categorized these as 'Transitory' and therefore not reportable... IF and only if they are underwritten as short term rental. (If the client is going to rent the property; but could be short term or could be long term - whatever seems better to them at the moment - I count them.)

HOWEVER, I want to check and see if this seems in line with what others are doing/current HMDA interpretation; as this will make a difference in whether we are a HMDA reporting bank in 2022. (We are less than 10 off of the threshold in 2021; and we definitely did more than 10 of these.)

Thoughts? Does this seem compliant?

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#2264299 - 01/05/22 02:42 PM Re: Short Term rentals/reportable? dutchbltz
raitchjay Offline
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Joined: Oct 2009
Posts: 9,088
OK
I agree with your approach. Others don't. Search the HMDA forums and you'll find several discussions.
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#2264309 - 01/05/22 04:12 PM Re: Short Term rentals/reportable? raitchjay
dutchbltz Offline
100 Club
Joined: Oct 2015
Posts: 207
Thanks!

(also; I don't know why, but the search feature doesn't work for me - never has. Always just tells me the form has become outdated and to resubmit.... but resubmitting yields the same result. So when I look for an answer on here I just end up paging through. I wish I COULD search!)

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#2264310 - 01/05/22 04:18 PM Re: Short Term rentals/reportable? dutchbltz
raitchjay Offline
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Joined: Oct 2009
Posts: 9,088
OK
I should have said that differently....what i meant to say is....use google and type in "bankers online hmda transitory housing" (or however you want to word it). That works well.
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I'm fixin' to fix that.

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#2264314 - 01/05/22 04:24 PM Re: Short Term rentals/reportable? dutchbltz
dutchbltz Offline
100 Club
Joined: Oct 2015
Posts: 207
Oh that's an excellent idea. Thanks so much; I never thought of that!

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#2264876 - 01/19/22 04:21 PM Re: Short Term rentals/reportable? dutchbltz
Compliance NABW Offline
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Joined: Oct 2015
Posts: 1,668
Originally Posted by dutchbltz
Thanks!

(also; I don't know why, but the search feature doesn't work for me - never has. Always just tells me the form has become outdated and to resubmit.... but resubmitting yields the same result. So when I look for an answer on here I just end up paging through. I wish I COULD search!)

here's a similar discussion: https://www.bankersonline.com/forum/ubbthreads.php/topics/2136980/2

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