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#815674 - 09/14/07 06:25 PM Home Improvement by Renter. HMDA?
RFitzpatrick Offline
Gold Star
Joined: Apr 2002
Posts: 424
Pacific NW
A borrower is doing a home improvement on property that he rents. Loan is unsecured, non owner occupied. Odd, but I think HMDA still applies for HI since we know about it. Anything I'm missing?
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#815690 - 09/14/07 06:32 PM Re: Home Improvement by Renter. HMDA? RFitzpatrick
Mrs. Rizzo Offline
10K Club
Mrs. Rizzo
Joined: Mar 2006
Posts: 10,392
Curled up by the fire...
If the loan is unsecured, it should be classified by the institution as HI (color coding files, CALL report classification)

See page D-5 of the GIR
Take responsibility for your life.

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