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#956184 - 05/08/08 06:40 PM refi, farm iwth dwelling
agent99 Offline
100 Club
Joined: Apr 2008
Posts: 240
I've been out of the HDMA loop and need some assistance - I read the commentary of farm loan puchase primarily for ag purpose is not reportable and that the bank can select its own standard to apply on a case by case basis.

Now the bank is refinancing a loan secured by farm + dwelling (land and dwelling separate mortgages) - this meets that HMDA refinance definition so I'm thinking it is reportable.

Opinions anyone???

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#956223 - 05/08/08 07:24 PM Re: refi, farm iwth dwelling agent99
hmdagal Offline
Power Poster
Joined: Dec 2002
Posts: 3,828
The exemption for farms only applies to purchases, not refis, so your loan is reportable.

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#956226 - 05/08/08 07:28 PM Re: refi, farm iwth dwelling hmdagal
#12 Offline
Diamond Poster
Joined: Jun 2005
Posts: 1,338
Not that she needs backup, but I agree with hmdagal!

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#956625 - 05/09/08 02:19 PM Re: refi, farm iwth dwelling #12
CRAatBOK Offline

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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.

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