Answer:
Yes, see page A-9 of the GIR.
First published on BankersOnline.com 11/22/10
Rate Spread Applicable for Primary Residence?
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Question:
We have done several loans to purchase residential rental property. The borrowers are using the investment property as collateral. We report on HMDA, but I have been told the rate spread is not applicable, since the property is not primary residence. Is this correct?
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