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Code 3 on HMDA LAR Report (HOEPA)

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Question: 
As to a loans HOEPA status, are second homes and vacation homes considered not applicable for HOEPA which would make the status code 3 on the HMDA LAR report?
Answer: 

Correct. HOEPA is only applicable to the consumer's primary residence.

First published on 11/03/2019

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