Posted By: corkygirl
report an assumption on LAR? - 12/16/10 09:43 PM
We have a commercial loan that was originally for the purchase of a 16 unit apartment building. This year the owners sold the building and the new owner signed an assumption of our existing loan. Is this HMDA reportable or not? No new note, no new money but purpose of assumption was to purchase the building - - I can go either way. Thanks