Would you consider when a mobile home is being purchased and installed on land that it is a construction loan? My opinion is that construction is that the dwelling will be constructed from the ground up. Other opinions in our FI is that since we are financing "construction" activities such as infrastructure installed, home delivered and connected to land, utility installation, possible road construction to right-of-ways, foundation installed (grading, footer, foundation, etc.) that it is a construction loan.
Are you treating these as construction loans in you FI?
Would you disclose the purpose on an LE and CD as Construction or Home Equity Loan if the land is not being purchased or refinanced?
How do you report these for HMDA?
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