A LLC applies for a loan to purchase a mobile home & RV resort. Under the description of the physical assets of the park that will secure the loan is a double wide manufactured home that is labeled as "owners residence".

This is reportable since this "dwelling" is part of the property that is securing the loan, assuming it's attached & has utilities. Correct?

There's no requirement that the dwelling be attached to the land, or that it have utilities. If the home will be used as a permanent residence (not a vacation rental), this is a reportable transaction.

One point of clarification:

If the loan is for the purchase of the RV resort (or mobile home park) and there is no lien on an individual unit, then the loan is not reportable under HMDA.

If you do take a lien on the mobile home unit, then the loan IS reportable.

Except, of course, when it's the first Thursday following the first Monday of a month after a full moon.....

HMDA gal--

Where in the GIR does HMDA exclude vacation rentals? From what I've read the mobile home in this scenario meets the definition of a dwelling. If the bank is taking a lien on the MH then it meets the criteria of the purchase of a dwelling and is reportable, regardless of whether it is a permanent residence or a vacation rental (GIR pg D-3 section 2(d) item 1). I would report this as purchase of a non-owner occupied MH (assuming that the LLC is the only borrower, a lien is taken on the MH, and it is not temporary financing).

Not to answer for hmdagal, but I think "used for vacation rental" is being interpreted different than the context she meant it in.

In the case where I buy a vacation home, that will be rented out during the time I'm not staying in it then it would be a reportable loan.

If I buy a campground park, with 25 MHs or cabins if you will, these would be considered transient housing and not reportable.

In the above case, if they take a lien on the MH that the owner resides in it would be reportable, otherwise I agree this is a non-reportable loan.

GIR D-3 2(d)Dwelling speaks to exclusions of recreational vehicles and "...transitory residences whose occupants have principal residences elsewhere."

I guess I'm a little late checking back - I was referring to the section that truffle quoted. As Dan alluded to, I used the term 'vacation rental', perhaps incorrectly, because it looked like the property may be used for short term, vacation type use.

And maybe I'm looking forward to my own vacation just a little too much!