HMDA is a complex regulation. While it might appear simple on the surface, it can get quite complicated. For example, one of the types of applications, HMDA says you must collect/report information for one to purchase a dwelling. First you need to know how HMDA defines a dwelling and understand that may not be the same as other regulations you deal with. A “dwelling” for HMDA purposes can be a lot of different things. It could be primary residence, an apartment building, a vacation home, a mobile home park, etc. But there are also exclusions you must be aware of as well. For example, the Regulation states, a HMDA defined dwelling does not include …a dwelling that is located on real property that is used primarily for agricultural purposes (e.g., a farm… or ranch).
David explains more in the video.