Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums Lending Compliance HMDA-Is this considered a dwelling?
Thread Options
#593944 - 08/04/06 08:00 PM HMDA-Is this considered a dwelling?
laf0915 Offline
100 Club
Joined: May 2006
Posts: 236
We have a loan to purchase a house. This house will not be occupied, but will be used as a business. Is there a business exemption or would this be reportable as a purchase?

Return to Top
Lending Compliance
#593945 - 08/04/06 08:03 PM Re: HMDA-Is this considered a dwelling?
Skittles Offline
10K Club
Skittles
Joined: Sep 2002
Posts: 13,965
TN
If no one is going to live in the house and it will be used as an office/business, it is not HMDA reportable.
_________________________
My Opinions Only

Return to Top
#593946 - 08/04/06 08:42 PM Re: HMDA-Is this considered a dwelling?
laf0915 Offline
100 Club
Joined: May 2006
Posts: 236
Thanks for the quick response

Return to Top
#593947 - 08/07/06 02:36 PM Re: HMDA-Is this considered a dwelling?
ACBbank Offline
Power Poster
ACBbank
Joined: Jul 2006
Posts: 4,348
New York City
I agree with skittles.
_________________________
"100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu

Return to Top
#593948 - 08/07/06 06:26 PM Re: HMDA-Is this considered a dwelling?
CRAatBOK Offline

Power Poster
Joined: Mar 2004
Posts: 6,172
Further South than I wanna be.
Me too.
_________________________
Life is not the way it's supposed to be. It's the way it is. The way you cope with it is what makes the difference.

Return to Top

Moderator:  Andy_Z