When it comes to HMDA, not everything is black and white. There can be gray areas and you need to be prepared to work through them. Remember for HMDA to apply, you first need to have an application for a dwelling-secured loan. While that may seem pretty clear, you need to ensure that the “dwelling” is a HMDA-defined dwelling. This can get a little tricky when you run into scenarios with transitory dwellings and/or residential dwellings that are converted to be non-residential.
David explains more in the video.
Published
2023/10/30