I am reviewing our home improvement loans and I found several that were not put on our LAR. I have listed the loan purpose below, will you let me know if these would be considered HMDA reportable?

- collateral=bare farm land, purpose is to build a barn
- unsecured loan, purpose is to repair power unit??
- unsecured loan, purpose is repairs to camp in commercial name

Let me also verify that just bc a loan has a term of less than 6 months, this does not make it temp financing....we have to also consider form of repayment.

Scenario #1: reportable only if your institution classifies internally (through color-coding files, separate call class codes, etc.) these types of loans as home improvement.

Scenario #2: I assume you are referring to a power unit attached to a dwelling somehow; if reportable at all, it would fall under the same scenario as #1.

Scenario #3: Unless the camp is on real estate that also contains a dwelling, it doesn't sound like a home improvement loan. If there is a dwelling, it too would fall under the umbrella of only reportable if your institution classifies these non-dwelling secured types as home improvement internally.

I agree with your last statement. A loan of 6 months or less that fully amortizes or is expected to be repaid in full at maturity would not qualify as temporary financing.

(My opinions/interpretations only, but i hope they help.)

I agree, except maybe for number one. Building a barn on bare farm land would never in my mind be home improvement.

Gee, you're right Randy....i totally missed that.

Thank you for your help...it is always nice to have a 2nd opinion.