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#1605976 - 09/20/11 04:11 PM Dwelling used in part of commercial purchase
HR Banker Offline
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Joined: Oct 2002
Posts: 1,027
Loan to purchase commercial buildings is partially secured by a dwelling. Is this HMDA reportable? I know a dwelling used to purchase a dwelling would be but since the purchase is a commercial building, I wasn't sure.

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#1605985 - 09/20/11 04:17 PM Re: Dwelling used in part of commercial purchase HR Banker
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
No it is not HMDA reportable unless the "commercial" building are residential property such as investment 1-4 family or multi-family.

If it is commercial property such as a store, office or factory, the loan is not HMDA reportable.

A refinance of such a loan, if still secured by the residential real estate, would be HMDA reportable if to the same borrower.
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Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
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