Are loans to finance a VRBO or Air BNB considered a dwelling for HMDA or transitory?
My financial institution has decided to use the 6 items that mandate TRID disclosures to trigger an application for HMDA. Is this an acceptable definition:
Do we have to force place insurance in the following situation? Mr. Smith's flood policy expires on 2/1/21. The loan pays off on 2/15/21. Mt. Smith decided to not renew his flood policy in anticipation of paying the loan in full. Do we have to force place coverage for the period of 2/1/21 through 2/15/21, even though the payoff was within the 29-day grace period?
Does an incomplete application for Regulation B mean an application is not HMDA reportable?
If I used an estimated value on a loan estimate for a construction loan where the customer already owns the land and no appraisal or valuation has been completed, will I use that same estimated value on the closing disclosure or can it be updated to the appraised value?