Answer:
It's a short term loan, but short term loans are not exempt from HMDA reporting. Temporary loans are exempt and this is not a temporary loan.
First published on BankersOnline.com 1/7/13
HMDA or Short Term Loan: Amortization Construction
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Question:
If a single family rental construction loan is termed out for 2 years with a 25 year amortization and balloon payment, would it be HMDA or considered a short term loan?
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