FORUM PROFILE

Re: HMDA-Construction

Home Forums Home Mortgage Disclosure Act HMDA-Construction Re: HMDA-Construction

#2909
jholzknecht
Keymaster

Construction loans are not HMDA reportable. The issue appears to be whether the note being refinanced is actually for construction or not? The additional collateral does not appear to have any impact on the answer. It is not clear why the additional collateral was obtained. Or, why the loan is being refinanced. But if the loan is actually for construction purposes the transaction appears to be exempt.