Skip to content

Is a loan to a mobile home dealer for an individual mobile home reportable under HMDA?

Question: 
Is a loan to a mobile home dealer for an individual mobile home reportable under HMDA?
Answer: 

If the mobile home is not ready for occupancy, then it is not reportable even if a lien was taken against the mobile home. Typically, individual loans for mobile home purchases by dealers or loans using mobile homes as collateral to purchase additional inventory are considered business purpose.

Vendor: 

First published on 02/23/2004

Filed under: 

Search Topics