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#595523 - 08/09/06 01:59 PM HMDA-Home Improvement Yes or No
Denny Offline
Member
Denny
Joined: Jun 2002
Posts: 79
Pa
I'm trying to decide if a $5,000 loan for the purpose of installing a natural gas line to our borrowers dwelling should be reported as a HMDA home improvement loan? Anyone have an opinion?

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Lending Compliance
#595524 - 08/09/06 02:23 PM Re: HMDA-Home Improvement Yes or No
Roger That Offline
Platinum Poster
Roger That
Joined: Sep 2005
Posts: 934
Penna.
I would see this as H/I, yes.

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#595525 - 08/09/06 02:24 PM Re: HMDA-Home Improvement Yes or No
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,765
Bloomington, IN
If the loan is dwelling secured yes. If the loan is not dwelling secured, only if you classify it as a HI loan.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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