We have a loan secured by a 1-4 family non-owner occupied dwelling that has been renewed. Due to this fact, we do not believe that it is HMDA reportable because it doesn't meet the definition of a refi. So, I'm correct in thinking that we can report this as a community development loan as Affordable Housing since the rent is under Fair Market Rents, correct?

I just ran into the same scenario and have the same question. (Loan secured by 1-4 family property that rents below HUD FMR was renewed with a renewal agreement, so it is not a HMDA refinance.) Could we consider this for CD credit?

Similarly, is a temporary loan to rehab a single 1-4 property in a LMI tract, a CD loan?

If the loan is not HMDA reportable, then yes it can be considered for community development credit. (ISBs have some special options to flag certain HMDA and small business loans as CD.)

If the bank is not an ISB and the loan is not HMDA reportable then yes, evaluate it for community development. Affordable housing (below market rents) counts as would a rehab if the bank can demonstrate some aspect of community development (affordable housing, revitalization, etc.)

Have your documentation proving the rent, the fair market rent for the area, etc. ;for revitalization, detailed descriptions of the work (photos are good!) are needed.