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#322827 - 02/26/05 04:50 PM Mobile Home Park - CRA?
Anonymous
Unregistered

I'm running short on time for filing CRA data, so I could sure use some help!

I have a commercial loan to purchase a mobile home park. The purchase does not include any mobile homes - just the sites and an office. Would you consider this loan to be secured by residential real estate - and not reportable as a small business loan?

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CRA
#322828 - 02/26/05 07:01 PM Re: Mobile Home Park - CRA?
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 85,142
Galveston, TX
IMHO - You would report this loan under "nonfarm nonresidential properties" and that would flow to "loans to small businesses" if under $1MM.
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#322829 - 02/26/05 08:24 PM Re: Mobile Home Park - CRA?
HRH Dawnie Offline
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HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
I'd agree with Randy.
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Dawn Coursey VP/CRA Queen

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#322830 - 02/27/05 09:19 PM Re: Mobile Home Park - CRA?
Anonymous
Unregistered

Thank you both! I appreciate your help.

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#322831 - 02/27/05 09:31 PM Re: Mobile Home Park - CRA?
HRH Dawnie Offline
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HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
Sorry you're still at work to find out the answer! But since I'm here too, I guess I'm not that sorry
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Dawn Coursey VP/CRA Queen

CRA Rating is in...Oh who cares...I'm home with the baby.

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#322832 - 08/03/05 03:13 PM Re: Mobile Home Park - CRA?
RR Becca Offline
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RR Becca
Joined: Sep 2004
Posts: 5,249
out of the frying pan...
I've got the backwards version of this one - loan for refinance of and secured by the MH park AND the MH's themselves. (sigh) I suppose this is HMDA even though it's coded as commercial RE? A thousand lashings for this LO!
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