HMDA and transitory dwellings

Answered by:

Question:

Our borrower owns a home that is used only for a few days here and there during the year. Is this a transitory residence?

Answer:

No; transitory dwellings are dwellings used for short term use by tenants, not by the actual owner of the property. This has always been the case and will continue under the revised HMDA rules in 2018.
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Learn more about Kathleen Blanchard’s webinar
HMDA and Dwellings – What’s New for 2018