A HMDA reportable loan, refi with proceeds used to buy out former spouse and home improvement.

Ownership of property changing (spouse no longer has interest) so is this a purchase? Help, I should know this and know it is has come up before but can't find thread.

Is your applicant on title to the property now? If yes then how can it be a purchase if he / she already owns it?

I agree with the kitty, if applicant is on title it can't be a purchase, but if not on title then when both HI and purchase, purchase trumps.

See post #496595.

HMDA - you have an option. We report as refis which I think the majority of others do also. However some do report as purchases. The key is being consistent.

RESPA - there will be a title transfer - use the HUD 1.

Reg. Z - ROR will apply to the person buying out the other person.