Is a loan for a “flipper” property subject to HMDA? This would be a short-term loan to purchase an existing property, renovate it, and then completely pay off the loan with the proceeds of the sale.
Although the loan may be short-term, if it is for the purpose of renovating an existing home (as opposed to constructing a new home), and if it is not intended to be replaced with later financing, then it would be reportable for HMDA purposes.
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